First Majestic Silver (AG) 40-F 31 Mar 21 2020 FY Annual report (Canada) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2020shares
Document Information [Line Items]
Entity Registrant Name	First Majestic Silver Corp
Entity Central Index Key	0001308648
Trading Symbol	ag
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)	199,264,637
Document Type	40-F
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Title of 12(b) Security	Common Shares, no par value

Consolidated Statements of Earn

Consolidated Statements of Earnings (Loss) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Revenue		$ 363,876	$ 363,944
Mine operating costs
Cost of sales		194,305	232,146
Cost of sales, standby costs		10,112		[1]
Depletion, depreciation, and amortization		54,405	65,584
Expense arising from exploration evaluation production and extractive costs of mineral resources		258,822	297,730
Mine operating earnings		105,054	66,214
General and administrative expenses		24,855	26,800
Share-based payments		8,255	8,325
Mine holding costs		21,583	7,579
Loss on divestiture of exploration projects		3,685
Impairment of non-current assets			58,739
Foreign exchange loss (gain)		6,319	(3,243)
Operating earnings (loss)		40,357	(31,986)
Fair value adjustment on foreign currency derivatives		(982)
Investment and other income		5,127	8,109
Finance costs		(14,773)	(15,147)
Earnings (loss) before income taxes		29,729	(39,024)
Income taxes
Current income tax expense		9,966	16,423
Deferred income tax recovery		(3,324)	(14,973)
Total tax expense (income)		6,642	1,450
Net earnings (loss) for the year		$ 23,087	$ (40,474)
Earnings (loss) per common share
Basic (in dollars per share)		$ 0.11	$ (0.20)
Diluted (in dollars per share)		$ 0.11	$ (0.20)
Weighted average shares outstanding
Basic (in shares)		213,879,622	201,615,489
Diluted (in shares)	[2]	215,878,829	201,615,489
[1]	Cost of sales for the year ended December 31, 2020 included standby costs of $10.1 million, primarily related to direct costs incurred at the San Dimas ($3.5 million), Santa Elena ($2.0 million)and La Encantada ($1.7 million) mines due to temporary suspensions following Mexico's Ministry of Health's Federal Decree requiring all non-essential businesses, including mining, to temporarily suspend activities throughout most of April and May in response to the global pandemic. In addition, the Company incurred $2.0 million in standby costs related to the 13-day union work stoppage at San Dimas in June 2020.
[2]	For the year ended December 31, 2020, diluted weighted average number of shares excluded 2,666,819 (2019 - 7,583,439) options, nil restricted and performance share units (2019 - 128,944) and16,327,598 (2019 - 16,327,598) common shares issuable under the convertible debentures (Note 19(a) ) that were anti-dilutive.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Net earnings (loss) for the year		$ 23,087	$ (40,474)
Items that will not be subsequently reclassified to net earnings (loss):
Unrealized gain (loss) on fair value of investments in marketable securities, net of tax	[1]	10,249	(255)
Realized gain on investments in marketable securities, net of tax	[1]	211	572
Remeasurement of retirement benefit plan		(515)
Other comprehensive income		9,945	317
Total comprehensive income (loss)		$ 33,032	$ (40,157)
[1]	Other comprehensive income reserve principally records the unrealized fair value gains or losses related to fair value through other comprehensive income ("FVTOCI") financial instruments and re-measurements arising from actuarial gains or losses and return on plan assets in relation to San Dimas' retirement benefit plan.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating Activities
Net earnings (loss) for the year	$ 23,087	$ (40,474)
Adjustments for:
Depletion, depreciation and amortization	56,283	67,220
Share-based payments	8,255	8,325
Income tax expense	6,642	1,450
Finance costs	14,773	15,147
Loss on divestiture of exploration projects	3,894
Fair value adjustment on foreign currency derivatives	982
Impairment of non-current assets		58,739
Unrealized gains from marketable securities and silver futures derivatives	(4,051)	(1,765)
Unrealized foreign exchange (gain) loss	(2,522)	273
Operating cash flows before movements in working capital and taxes	107,343	108,915
Net change in non-cash working capital items	(22,831)	37,327
Income taxes paid	(4,799)	(6,217)
Cash generated by operating activities	79,713	140,025
Investing Activities
Expenditures on mining interests	(68,647)	(76,983)
Acquisition of property, plant and equipment	(43,322)	(41,625)
Deposits paid for acquisition of non-current assets	(13,846)	(1,748)
Acquisition of Springpole Silver Stream	(2,521)
Other	1,221	3,422
Cash used in investing activities	(127,115)	(116,934)
Financing Activities
Proceeds from prospectus offerings, net of share issue costs	126,132	81,916
Proceeds from exercise of stock options	14,011	16,663
Repayment of lease liabilities	(7,706)	(5,213)
Finance costs paid	(4,200)	(5,686)
Proceeds from drawdown of Revolving Credit Facility	10,000
Repayment of debt facility	(19,969)
Shares repurchased and cancelled	(1,694)
Cash provided by financing activities	116,574	87,680
Effect of exchange rate on cash and cash equivalents held in foreign currencies	397	1,225
Increase in cash and cash equivalents	69,172	110,771
Cash and cash equivalents, beginning of the year	169,009	57,013
Cash and cash equivalents, end of year	238,578	169,009
Cash	207,132	161,268
Short-term investments	$ 31,446	$ 7,741

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents		$ 238,578	$ 169,009
Trade and other receivables		4,271	4,295
Value added taxes receivable	[1]	41,641	29,637
Inventories		32,512	30,517
Other financial assets		36,319	7,488
Prepaid expenses and other		2,725	2,033
Total current assets		356,046	242,979
Non-current assets
Mining interests		509,730	463,391
Property, plant and equipment		258,220	236,639
Right-of-use assets		14,330	12,034
Deposits on non-current assets		14,246	2,189
Non-current income taxes receivable			4,579
Non-current value added taxes receivable	[1]	15,301
Deferred tax assets		69,644	51,141
Total assets		1,237,517	1,012,952
Current liabilities
Trade and other payables		76,002	59,123
Unearned revenue		2,717	4,486
Current portion of debt facilities		10,975	1,175
Current portion of lease liabilities		5,358	6,920
Income taxes payable		6,574	149
Total current liabilities		101,626	71,853
Non-current liabilities
Debt facilities		141,733	154,643
Lease liabilities		15,217	15,016
Decommissioning liabilities		51,471	40,528
Other liabilities		5,406	4,675
Non-current income taxes payable		23,099
Deferred tax liabilities		48,729	63,916
Total liabilities		387,281	350,631
Equity
Share capital		1,087,139	933,182
Equity reserves		101,997	90,692
Accumulated deficit		(338,900)	(361,553)
Total equity		850,236	662,321
Total liabilities and equity		$ 1,237,517	$ 1,012,952
[1]	Equity component of convertible debenture reserve represents the estimated fair value of its conversion option of $26.3 million, net of deferred tax effect of $7.1 million. This amount is not subsequently remeasured and will remain in equity until the conversion option is exercised, in which case, the balance recognized in equity will be transferred to share capital. Where the conversion option remains unexercised at the maturity date of the convertible note, the balance will remain in equity reserves.

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands		Issued capital [member]		Share-based payments [member]		Other comprehensive income [Member]		Equity component of convertible debenture [Member]		Total equity reserves [member]	Retained earnings [member]	Total
Balance (in shares) at Dec. 31, 2018		193,873,335
Balance at Dec. 31, 2018		$ 827,622		$ 71,715	[1]	$ (2,849)	[2]	$ 19,164	[3]	$ 88,030	$ (321,079)	$ 594,573
Statement Line Items [Line Items]
Net earnings (loss) for the year					[1]		[2]		[3]		(40,474)	(40,474)
Other comprehensive income					[1]	317	[2]		[3]	317		317
Total comprehensive loss					[1]	317	[2]		[3]	317	(40,474)	(40,157)
Share-based payments				9,319	[1]		[2]		[3]	9,319		$ 9,319
Prospectus offerings (Note 23(a)) (in shares)		11,172,982	[1]									11,172,982
Prospectus offerings (Note 23(a))	[1]	$ 81,916					[2]		[3]			$ 81,916
Exercise of stock options (Note 23(b)) (in shares)	[2]	2,918,518
Exercise of stock options (Note 23(b))	[2]	$ 22,649		(5,986)	[1]				[3]	(5,986)		16,663
Settlement of restricted share units (Note 23(c)) (in shares)	[3]	145,576
Settlement of restricted share units (Note 23(c))	[3]	$ 988		(988)	[1]		[2]			(988)
Shares cancelled (in shares)		1,661
Shares cancelled		$ 7			[1]		[2]		[3]			$ 7
Shares repurchased and cancelled (Note 23(e)) (in shares)												0
Balance (in shares) at Dec. 31, 2019		208,112,072
Balance at Dec. 31, 2019		$ 933,182		74,060	[1]	(2,532)	[2]	19,164	[3]	90,692	(361,553)	$ 662,321
Statement Line Items [Line Items]
Net earnings (loss) for the year					[1]		[2]		[3]		23,087	23,087
Other comprehensive income					[1]	9,945	[2]		[3]	9,945		9,945
Total comprehensive loss					[1]	9,945	[2]		[3]	9,945	23,087	33,032
Share-based payments				8,255	[1]		[2]		[3]	8,255		$ 8,255
Prospectus offerings (Note 23(a)) (in shares)		10,654,338	[1]									10,654,338
Prospectus offerings (Note 23(a))	[1]	$ 126,132					[2]		[3]			$ 126,132
Exercise of stock options (Note 23(b)) (in shares)	[2]	2,473,926
Exercise of stock options (Note 23(b))	[2]	$ 19,914		(5,903)	[1]				[3]	(5,903)		14,011
Settlement of restricted share units (Note 23(c)) (in shares)	[3]	127,000
Settlement of restricted share units (Note 23(c))	[3]	$ 992		(992)	[1]		[2]			(992)
Acquisition of Springpole Silver Stream (Note 14(c)) (in shares)	[3]	805,698
Acquisition of Springpole Silver Stream (Note 14(c))	[3]	$ 7,479			[1]		[2]					7,479
Acquisition of mining interests (in shares)		66,997
Acquisition of mining interests		$ 700			[1]		[2]		[3]			$ 700
Shares repurchased and cancelled (Note 23(e)) (in shares)		(275,000)										(275,000)
Shares repurchased and cancelled (Note 23(e))		$ (1,260)			[1]		[2]		[3]		(434)	$ (1,694)
Balance (in shares) at Dec. 31, 2020		221,965,031
Balance at Dec. 31, 2020		$ 1,087,139		$ 75,420	[1]	$ 7,413	[2]	$ 19,164	[3]	$ 101,997	$ (338,900)	$ 850,236
[1]	Share-based payments reserve records the cumulative amount recognized under IFRS 2 share-based payments in respect of stock options granted, restricted share units and shares purchase warrants issued but not exercised or settled to acquire shares of the Company.
[2]	Other comprehensive income reserve principally records the unrealized fair value gains or losses related to fair value through other comprehensive income ("FVTOCI") financial instruments and re-measurements arising from actuarial gains or losses and return on plan assets in relation to San Dimas' retirement benefit plan.
[3]	Equity component of convertible debenture reserve represents the estimated fair value of its conversion option of $26.3 million, net of deferred tax effect of $7.1 million. This amount is not subsequently remeasured and will remain in equity until the conversion option is exercised, in which case, the balance recognized in equity will be transferred to share capital. Where the conversion option remains unexercised at the maturity date of the convertible note, the balance will remain in equity reserves.

Note 1 - Nature of Operations

Note 1 - Nature of Operations	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of nature of operations explanatory [text block]	1. First Majestic Silver Corp. (the “Company” or “First Majestic”) is in the business of silver production, development, exploration, and acquisition of mineral properties with a focus on silver production in Mexico. The Company owns three four First Majestic is incorporated in Canada with limited liability under the legislation of the Province of British Columbia and is publicly listed on the New York Stock Exchange under the symbol “AG”, on the Toronto Stock Exchange under the symbol “FR” and on the Frankfurt Stock Exchange under the symbol “FMV”. The Company's head office and principal address is located at 925 1800, V6C 3L2.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of basis of preparation of financial statements [text block]	2. These audited consolidated financial statements have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). The significant accounting policies, estimates and judgments applied in preparing these consolidated financial statements are summarized in Note 3 These audited consolidated financial statements have been prepared on an historical cost basis except for certain items that are measured at fair value including derivative financial instruments (Note 24 13 These audited consolidated financial statements incorporate the financial statements of the Company and its controlled subsidiaries. Control exists when the Company has the power, directly or indirectly, to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The consolidated financial statements include the accounts of the Company and its subsidiaries (see Note 27 These audited consolidated financial statements of First Majestic Silver Corp. for the years ended December 31, 2020 2019 February 18, 2021.

Note 3 - Significant Accounting

Note 3 - Significant Accounting Policies, Estimates and Judgments	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of significant accounting policies [text block]	3. The preparation of audited consolidated financial statements in conformity with IFRS requires management to make judgments, estimates and assumptions about future events that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these estimates are based on management's best knowledge of the amounts, events or actions, actual results may Amended IFRS standards that are effective for the current year In the current year, the Company has applied the below amendments to IFRS Standards and Interpretations issued by the International Accounting Standards Board ("IASB") that were effective for annual periods that begin on or after January 1, 2020. not Interest Rate Benchmark Reform (Amendments to IFRS 9, 39 7 The amendments in Interest Rate Benchmark Reform (Amendments to IFRS 9, 39 7 not not not Amendments to IFRS 16 To provide practical relief to lessees in accounting for rent concessions arising as a result of COVID- 19 16 19 June 1, 2020, not not 19 Amendments to IFRS 3 The amendments clarify that while businesses usually have outputs, outputs are not Additional guidance is provided that helps to determine whether a substantive process has been acquired. The amendments introduce an optional concentration test that permits a simplified assessment of whether an acquired set of activities and assets is not not The amendments are applied prospectively to all business combinations and asset acquisitions for which the acquisition date is on or after the first January 1, 2020. Business Combinations Accounting Policy: Acquisitions of businesses are accounted for using the acquisition method. The consideration of each business combination is measured, at the date of the exchange, as the aggregate of the fair value of assets given, liabilities incurred or assumed and equity instruments issued by the Company to the former owners of the acquiree in exchange for control of the acquiree. Acquisition-related costs incurred for the business combination are expensed. The acquiree's identifiable assets, liabilities and contingent liabilities are recognized at their fair value at the acquisition date. Goodwill arising on acquisition is recognized as an asset and initially measured at cost, being the excess of the consideration of the acquisition over the Company's interest in the fair value of the net identifiable assets, liabilities and contingent liabilities recognized. If the Company's interest in the fair value of the acquiree's net identifiable assets, liabilities and contingent liabilities exceeds the cost of the acquisition, the excess is recognized in earnings or loss immediately. Goodwill may Goodwill Accounting Policy: Goodwill arising on the acquisition of a business is carried at cost as established at the date of the acquisition less accumulated impairment losses, if any. Goodwill is allocated to each of the Company's cash-generating units that is expected to benefit from the synergies of the acquisition. A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently when there is an indication that the unit may first not December 31, 2020, $nil 2019 $nil Foreign Currency Accounting Policy: The consolidated financial statements are presented in U.S. dollars. The individual financial statements of each entity are presented in their functional currency, which is the currency of the primary economic environment in which the entity operates. Transactions in foreign currencies are translated into the entities' functional currencies at the exchange rates at the date of the transactions. Monetary assets and liabilities of the Company's operations denominated in a currency other than the U.S. dollar are translated using exchange rates prevailing at the date of the statement of financial position. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates on the dates of the transactions. Revenue and expense items are translated at the exchange rates in effect at the date of the underlying transaction, except for depletion and depreciation related to non-monetary assets, which are translated at historical exchange rates. Exchange differences are recognized in the statements of earnings or loss in the period in which they arise. Accounting Estimates and Judgments: Determination of Functional Currency The functional currency for each of the Company's subsidiaries is the currency of the primary economic environment in which the entity operates. The Company has determined that the functional currency of each entity is the U.S. dollar. Determination of functional currency may Revenue Recognition ( Note 5 ) Accounting Policy: The Company's primary product is silver. Other metals, such as gold, lead and zinc, produced as part of the extraction process are considered to be by-products arising from the production of silver. Smelting and refining charges are net against revenue from the sale of metals. Revenue relating to the sale of metals is recognized when control of the metal or related services are transferred to the customer in an amount that reflects the consideration the Company expects to receive in exchange for the metals. When considering whether the Company has satisfied its performance obligation, it considers the indicators of the transfer of control, which include, but are not Accounting Policy: Metals in doré sold are priced on date of transfer of control. Final weights and assays are adjusted on final settlement which is approximately one one three Revenue from the sale of coins, ingots and bullion is recorded when the products have been shipped and funds have been received. When cash was received from customers prior to shipping of the related finished goods, the amounts are recorded as unearned revenue until the products are shipped. Accounting Estimates and Judgments: Determination of Performance Obligations The Company applied judgment to determine if a good or service that is promised to a customer is distinct based on whether the customer can benefit from the good or service on its own or together with other readily available resources and whether the good or service is separately identifiable. Based on these criteria, the Company determined the primary performance obligation relating to its sales contracts is the delivery of the bullion, doré and concentrates. Shipping and insurance services arranged by the Company for its concentrate sales customers that occur after the transfer of control are also considered to be performance obligations. Inventories ( Note 12 ) Accounting Policy: Mineral inventories, including stockpiled ore, work in process and finished goods, are valued at the lower of weighted average cost and estimated net realizable value. Cost includes all direct costs incurred in production including direct labour and materials, freight, depreciation and amortization and directly attributable overhead costs. Net realizable value is calculated as the estimated price at the time of sale based on prevailing and future metal prices less estimated future production costs to convert the inventories into saleable form. Any write-downs of inventory to net realizable value are recorded as cost of sales. If there is a subsequent increase in the value of inventories, the previous write-downs to net realizable value are reversed to the extent that the related inventory has not Stockpiled ore inventory represents ore that has been extracted from the mine and is available for further processing. Costs added to stockpiled ore inventory are valued based on current mining cost per tonne incurred up to the point of stockpiling the ore and are removed at the weighted average cost per tonne. Stockpiled ore tonnage is verified by periodic surveys and physical counts. Work in process inventory includes precipitates, inventories in tanks and in the milling process. Finished goods inventory includes metals in their final stage of production prior to sale, including primarily doré and dried concentrates at our operations and finished goods in-transit. Materials and supplies inventories are valued at the lower of weighted average cost and net realizable value. Costs include acquisition, freight and other directly attributable costs. Exploration and Evaluation Expenditures ( Note 14 ) Accounting Policy: Exploration and evaluation activity involves the search for mineral resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Exploration and evaluation activity includes: • acquiring the rights to explore; • researching and analyzing historical exploration data; • gathering exploration data through topographical, geochemical and geophysical studies; • exploratory drilling, trenching and sampling; • determining and examining the volume and grade of the resource; • surveying transportation and infrastructure requirements; and • compiling pre-feasibility and feasibility studies. Capitalization of exploration and evaluation expenditures commences on acquisition of a beneficial interest or option in mineral rights. Capitalized costs are recorded as mining interests at cost less impairment charges, if applicable. No not The majority of the Company's exploration and evaluation expenditures focus on mineral deposits in proximity to its existing mining operations. Where the Company is acquiring a new property, the Company makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. Exploration and evaluation expenditures are transferred to development or producing mining interests when technical feasibility and commercial viability of the mineral resource have been demonstrated. Factors taken into consideration include: • there is sufficient geological certainty of converting the mineral deposit into proven and probable reserves; • life of mine plan and economic modeling support the economic extraction of such reserves and resources; • for new properties, a scoping study and/or feasibility study demonstrates that the additional reserves and resources will generate a positive economic outcome; and • operating and environmental permits exist or are reasonably assured as obtainable. Exploration and evaluation expenditures remain as exploration mining interests and do not Accounting Estimates and Judgments: Economic recoverability and probability of future economic benefits of exploration, evaluation and development costs Management has determined that exploratory drilling, evaluation, development and related costs incurred which were capitalized have potential future economic benefits and are potentially economically recoverable, subject to impairment analysis. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefit including geologic and metallurgic information, history of conversion of mineral deposits to proven and probable reserves, scoping and feasibility studies, accessible facilities, existing permits and life of mine plans. Mining Interests ( Note 14 ) Accounting Policy: Exploration, development and field support costs directly related to mining interests are deferred until the property to which they directly relate is placed into production, sold, abandoned or subject to a condition of impairment. The deferred costs are amortized over the useful life of the ore body following commencement of production, or written off if the property is sold or abandoned. Administration costs and other exploration costs that do not Upon commencement of commercial production, mining interests are depleted on a units-of-production basis over the estimated economic life of the mine. In applying the units of production method, depletion is determined using quantity of material extracted from the mine in the period as a portion of total quantity of material to be extracted in current and future periods based on reserves and resources considered to be highly probable to be economically extracted over the life of mine. If no may From time to time, the Company acquires or disposes of properties pursuant to the terms of option agreements. Options are exercisable entirely at the discretion of the optionee with no Accounting Estimates and Judgments: Mineral Reserve and Resource Estimates Mineral reserve and resource estimates affect the determination of recoverable value used in impairment assessments, the depletion and depreciation rates for non-current assets using the units of production method and the expected timing of reclamation and closure expenditures. The figures for mineral reserves and mineral resources are determined in accordance with National Instrument 43 101 43 101" Accounting Estimates and Judgments: Depletion Rate for Mining Interests Depletion expenses are allocated based on estimated useful life of the asset. Should the expected asset life and associated depletion rate differ from the initial estimate, the change in estimate would be made prospectively in the consolidated statements of earnings or loss. Accounting Policy: A stream asset is a long-term metal purchase agreement for which settlement is called for in silver, the amount of which is based on production at a mine corresponding to the specific agreement. On acquisition of a stream asset, it is recorded at cost and is accounted for in accordance with IFRS 6, 6” 6. Once the technical feasibility, commercial viability and a development decision have been established, the value of the stream asset is reclassified and accounted for in accordance with IAS 16, 16” 6. A producing stream asset is depleted using the units-of-production method over the life of the property to which the interest relates, which is estimated using available information of proven and probable reserves and the portion of resources expected to be classified as mineral reserves at the mine corresponding to the specific agreement. Property, Plant and Equipment ( Note 15 ) Accounting Policy: Property, plant and equipment are recorded at cost less accumulated depreciation and accumulated impairment losses. The cost of an item of property, plant and equipment includes the purchase price or construction cost, any costs directly attributable to bringing the asset to the location and condition necessary for its intended use, an initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located, and borrowing costs related to the acquisition or construction of qualifying assets. Property, plant and equipment are depreciated using either the straight-line or units-of-production method over the shorter of the estimated useful life of the asset or the expected life of mine. Where an item of property, plant and equipment comprises of major components with different useful lives, the components are accounted for as separate items of property, plant and equipment. Assets under construction are recorded at cost and re-allocated to machinery and equipment when it becomes available for use. Depreciation commences when the asset is in the condition and location necessary for it to operate in the manner intended by management. Depreciation charges on assets that are directly related to mineral properties are allocated to those mineral properties. The Company conducts an annual review of residual balances, useful lives and depreciation methods utilized for property, plant and equipment. Any changes in estimate that arise from this review are accounted for prospectively. Accounting Estimates and Judgments: Commencement of Commercial Production Prior to reaching commercial production levels intended by management, costs incurred are capitalized as part of the related mine or mill and proceeds from mineral sales are offset against costs capitalized. Depletion of capitalized costs for mining properties and depreciation and amortization of property, plant and equipment begin when operating levels intended by management have been reached. Determining when a mine or mill is in the condition necessary for it to be capable of operating in the manner intended by management is a matter of judgment dependent on the specific facts and circumstances. The following factors may • substantially all major capital expenditures have been completed to bring the asset to the condition necessary to operate in the manner intended by management; • the mine or mill has reached a pre-determined percentage of design capacity; • the ability to sustain a pre-determined level of design capacity for a significant period of time (i.e. the ability to process ore continuously at a steady or increasing level); • the completion of a reasonable period of testing of the mine plant and equipment; • the ability to produce a saleable product (i.e. the ability to produce concentrate within required sellable specifications); • the mine or mill has been transferred to operating personnel from internal development groups or external contractors; and • mineral recoveries are at or near the expected production levels. Accounting Estimates and Judgments: Depreciation and Amortization Rates for Property, Plant and Equipment Depreciation and amortization expenses are allocated based on estimated useful life of the asset. Should the expected asset life and associated depreciation rates differ from the initial estimate, the change in estimate would be made prospectively in the consolidated statements of earnings or loss. Borrowing Costs Accounting Policy: Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset that takes a substantial period of time to get ready for its intended use are capitalized as part of the cost of the asset until the asset is substantially ready for its intended use. Other borrowing costs are recognized as an expense in the period incurred. As at December 31, 2020 2019, not Right of Use Assets ( Note 16 ) and Lease Liabilities ( Note 20 ) Accounting Policy: Effective January 1, 2019, 12 The lease liability is initially measured at the present value of the lease payments that are not Lease payments included in the measurement of the lease liability comprise: • fixed lease payments (including in-substance fixed payments), less any lease incentives receivable; • variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date; • the amount expected to be payable by the lessee under residual value guarantees; • the exercise price of purchase options, if the lessee is reasonably certain to exercise the options; and • payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. The Company remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: • the lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate. • the lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which case the lease liability is remeasured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used). • a lease contract is modified and the lease modification is not Accounting Policy: The right-of-use assets comprise of the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day, less any lease incentives received and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Company expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. As a practical expedient, IFRS 16 not Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognized immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalized in accordance with the Company's general policy on borrowing costs. Accounting Policy: At each statement of financial position date, the Company reviews the carrying amounts of its non-current assets to determine whether there is any indication that those assets are impaired. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. Where the asset does not If the recoverable amount of the asset or CGU is determined to be less than its carrying amount, the carrying amount of the asset or CGU is reduced to its recoverable amount and an impairment loss is recognized as an expense in the consolidated statements of earnings or loss. Recoverable amount is the higher of fair value less costs of disposal (“FVLCD”) and value in use (“VIU”). FVLCD is determined as the amount that would be obtained from the sale of the asset or CGU in an arm's length transaction between knowledgeable and willing parties. The Company considers the use of a combination of its internal discounted cash flow economic models and in-situ value of reserves, resources and exploration potential of each CGU for estimation of its FVLCD. These cash flows are discounted by an appropriate post-tax discount rate to arrive at a net present value of the asset. VIU is determined as the present value of the estimated cash flows expected to arise from the continued use of the asset or CGU in its present form and its eventual disposal. VIU is determined by applying assumptions specific to the Company's continued use and does not Accounting Estimates and Judgments: Indications of Impairment and Reversal of Impairment Management considers both external and internal sources of information in assessing whether there are any indications that the Company's property, plant and equipment and mining interests are impaired or previous impairments should be reversed. External sources of information management considers include changes in the market, economic and legal environment in which the Company operates that are not For exploration and evaluation assets, indications include but are not Fair Value Estimates In determining the recoverable amounts of the Company's property, plant and equipment and mining interests, management makes estimates of the discounted future cash flows expected to be derived from the Company's mining properties, costs of disposal of the mining properties and the appropriate discount rate. Reductions in metal price forecasts, increases in estimated future costs of production, increases in estimated future capital expenditures, reductions in the amount of recoverable reserves, resources, and exploration potential, and/or adverse current economics can result in an impairment of the carrying amounts of the Company's non-current assets. Conversely, favourable changes to the aforementioned factors can result in a reversal of previous impairments. Accounting Policy: Employees (including directors and officers) of the Company may The Company adopted the 2019 three In situations where equity instruments are issued to non‐employees, the share-based payments are measured at the fair value of goods or services received. If some or all of the goods or services received by the Company as consideration cannot be specifically identified, they are measured at the fair value of the share‐based payment. Accounting Estimates and Judgments: Valuation of Share-based Payments The Company uses the Black-Scholes Option Pricing Model for valuation of share-based payments. Option pricing models require the input of subjective assumptions including expected price volatility, interest rate and forfeiture rate. Changes in the input assumptions can materially affect the fair value estimate and the Company's earnings and equity reserves. Taxation ( Note 22 ) Accounting Policy: Current and deferred tax are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case they are recognized in other comprehensive income or directly in equity. Current income tax is based on taxable earnings for the year. The tax rates and tax laws to compute the amount payable are those that are substantively enacted in each tax regime at the date of the statement of financial position. Deferred income tax is recognized, using the liability method, on temporary differences between the carrying value of assets and liabilities in the statement of financial position, unused tax losses, unused tax credits and the corresponding tax bases used in the computation of taxable earnings, based on tax rates and tax laws that are substantively enacted at the date of the statement of financial position and are expected to apply when the related deferred tax asset is realized or the deferred tax liability is settled. Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries, and interests in joint ventures, except where the timing of the reversal of the temporary difference is controlled by the Company and it is probable that the temporary difference will not Deferred tax assets are recognized for all deductible temporary differences to the extent that the realization of the related tax benefit through future taxable earnings is probable. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset the current tax assets against the current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis. Accounting Estimates and Judgments: Recognition of Deferred Income Tax Assets In assessing the probability of realizing income tax assets recognized, management makes estimates related to expectations of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified. Estimates of future taxable income are based on forecasted cash flows from operations and the application of existing tax laws in each jurisdiction. Forecasted cash flows from operations are based on life of mine projections internally developed, reviewed by management and are consistent with the forecasts utilized for business planning and impairment testing purposes. Weight is attached to tax planning opportunities that are within the Company's control, and are feasible and implementable without significant obstacles. The likelihood that tax positions taken will be sustained upon examination by applicable tax authorities is assessed based on individual facts and circumstances of the relevant tax position evaluated in light of all available evidence. Where applicable tax laws and regulations are either unclear or subject to ongoing varying interpretations, it is reasonably possible that changes in these estimates can occur that materially affect the amounts of income tax assets recognized. At the end of each reporting period, the Company reassesses recognized and unrecognized income tax assets. Accounting Estimates and Judgments: Tax Contingencies The Company's operations involve dealing with uncertainties and judgments in the application of tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with tax authorities in various jurisdictions and resolution of disputes arising from tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues based on its estimate of whether, and the extent to which, additional taxes will be due. The Company adjusts these liabilities in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may Cash and Cash Equivalents Accounting Policy: Cash in the statement of financial position includes cash on hand and held at banks and cash equivalents include short-term guaranteed investment certificates redeemable within three Financial Instruments Accounting Policy: Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument. On initial recognition, all financial assets and financial liabilities are recorded at fair value, net of attributable transaction costs, except for financial assets and liabilities classified as at fair value through profit or loss (“FVTPL”). The directly attributable transaction costs of financial assets and liabilities classified as at FVTPL are expensed in the period in which they are incurred. Subsequent measurement of financial assets and liabilities depends on the classifications of such assets and liabilities. Amortized cost Financial assets that meet the following conditions are measured subsequently at amortized cost: • the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows, and • the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The amortized cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortization using effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. Interest income is recognized using the effective interest method. The Company's financial assets at amortized cost primarily include cash and cash equivalents, trade and other receivables and value added taxes receivable included in other current and non-current financial assets in the Consolidated Statement of Financial Position. Fair value through other comprehensive income ("FVTOCI") Financial assets that meet the following conditions are measured at FVTOCI: • The financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and • The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Company has designated certain investments in marketable securities that are not 13 On initial recognition, the Company may not not Accounting Policy: Financial assets measured subsequently at fair value through profit or loss ( FVTPL ) By default, all other financial assets, including derivatives, are measured subsequently at FVTPL. The Company, at initial recognition, may Financial assets measured at FVTPL are measured at fair value at the end of each reporting period, with any fair value gains or losses recognized in profit or loss to the extent they are not 24 Financial liabilities and equity Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all its liabilities. Equity instruments issued by the Company are rec

Note 4 - Segmented Information

Note 4 - Segmented Information	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of entity's operating segments [text block]	4. All of the Company's operations are within the mining industry and its major products are precious metals doré which are refined or smelted into pure silver and gold and sold to global metal brokers. Historically, the Company has also produced industrial metals of lead and zinc from its sales of concentrates. Transfer prices between reporting segments are set on an arms-length basis in a manner similar to transactions with third A reporting segment is defined as a component of the Company that: • engages in business activities from which it may • whose operating results are reviewed regularly by the entity's chief operating decision maker; and • for which discrete financial information is available. For the year ended December 31, 2020, three January 1, 2020, no December 31, 2020 2019. 14 19 not not December 31, 2020 Significant information relating to the Company's reportable operating segments is summarized in the tables below: Year Ended December 31, 2020 and 2019 Revenue Cost of sales Depletion, depreciation, and amortization Mine operating earnings (loss) Capital expenditures Mexico San Dimas 2020 $ 211,759 $ 110,782 $ 33,738 $ 67,239 $ 43,772 2019 185,999 100,120 28,491 57,388 42,511 Santa Elena 2020 76,051 52,990 10,472 12,589 33,739 2019 94,378 53,605 12,204 28,569 23,004 La Encantada 2020 73,632 37,794 8,265 27,573 10,733 2019 50,867 36,609 11,648 2,610 13,225 Non-producing Properties 2020 183 1,362 848 (2,027 ) 4,338 2019 32,204 40,910 12,162 (20,868 ) 20,258 Others 2020 2,251 1,489 1,082 (320 ) 32,453 2019 496 902 1,079 (1,485 ) 25,196 Consolidated 2020 $ 363,876 $ 204,417 $ 54,405 $ 105,054 $ 125,035 2019 $ 363,944 $ 232,146 $ 65,584 $ 66,214 $ 124,194 During the year ended December 31, 2020, three December 31, 2019 six 99% one 92% 2019 85% Mining Interests At December 31, 2020 and 2019 Producing Exploration Property, plant and equipment Total mining assets Total assets Total liabilities Mexico San Dimas 2020 $ 204,592 $ 17,179 $ 112,105 $ 333,876 $ 439,145 $ 105,462 2019 193,433 8,699 116,556 318,688 360,387 46,504 Santa Elena 2020 52,892 33,951 49,245 136,088 166,525 33,467 2019 45,046 18,592 47,787 111,425 134,666 23,867 La Encantada 2020 25,865 2,955 16,555 45,375 99,185 29,354 2019 23,091 1,104 14,736 38,931 71,255 21,563 Non-producing Properties 2020 108,837 37,004 29,888 175,729 219,109 40,274 2019 105,778 32,938 31,050 169,766 213,061 36,261 Others 2020 — 26,456 50,427 76,883 313,553 178,724 2019 — 34,710 26,510 61,220 233,583 222,436 Consolidated 2020 $ 392,185 $ 117,545 $ 258,220 $ 767,950 $ 1,237,517 $ 387,281 2019 $ 367,348 $ 96,043 $ 236,639 $ 700,030 $ 1,012,952 $ 350,631 (Tabular amounts are expressed in thousands of US dollars)

Note 5 - Revenues

Note 5 - Revenues	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of revenue [text block]	5. The majority of the Company's revenues are from the sale of precious metals contained in doré form. The Company's primary products are precious metals of silver and gold. Revenues from sale of metal, including by-products, are recorded net of smelting and refining costs. Revenues for the period are summarized as follows: Year Ended December 31, 2020 2019 Gross revenue from payable metals: Silver $ 242,338 66 % $ 215,301 58 % Gold 124,264 34 % 143,029 39 % Lead 74 — % 6,988 2 % Zinc — — % 3,517 1 % Gross revenue 366,676 100 % 368,835 100 % Less: smelting and refining costs (2,800 ) (4,891 ) Revenues $ 363,876 $ 363,944 As at December 31, 2020, $2.7 December 31, 2019 - $4.5 not (a) Gold Stream Agreement with Sandstorm Gold Ltd. The Santa Elena mine has a purchase agreement with Sandstorm Gold Ltd. (“Sandstorm”), which requires the Company to sell 20% $450 1% December 31, 2020, 5,697 2019 9,164 $463 2019 $458 (b) Gold Stream Agreement with Wheaton Precious Metals Corporation In 2018, 25% 70 1 $600 1% six 90:1 50:1, 90:1 50:1, 90:1 April 1, 2020 70:1 October 14, 2020 six 90:1. During the year ended December 31, 2020, 38,604 2019 44,667 $610 2019 $604

Note 6 - Cost of Sales

Note 6 - Cost of Sales	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of cost of sales [text block]	6. Cost of sales excludes depletion, depreciation and amortization and are costs that are directly related to production and generation of revenues at the operating segments. Significant components of cost of sales are comprised of the following: Year Ended December 31, 2020 2019 Consumables and materials $ 36,760 $ 45,947 Labour costs 103,075 118,229 Energy 25,075 35,135 Other costs 11,275 13,243 Production costs $ 176,185 $ 212,554 Transportation and other selling costs 2,288 2,735 Workers participation costs 14,245 9,036 Environmental duties and royalties 2,010 1,438 Inventory changes (423 ) 3,459 Cost recovery related to Republic Metals Refining Corp. bankruptcy (1) — (1,600 ) Standby Costs (2) — 2,879 Restructuring costs (3) — 1,645 Cost of Sales $ 194,305 $ 232,146 Cost of Sales - Standby Costs (4) $ 10,112 $ — ( 1 In November 2018, one $7.5 September 2019, $1.6 no ( 2 Effective from July 2019, January 1, 2020, 8 ( 3 Effective September 2019, ( 4 Cost of sales for the year ended December 31, 2020 $10.1 $3.5 $2.0 $1.7 April May $2.0 13 June 2020.

Note 7 - General and Administra

Note 7 - General and Administrative Expenses	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of general and administrative expense [text block]	7. General and administrative expenses are incurred to support the administration of the business that are not Year Ended December 31, 2020 2019 Corporate administration $ 5,012 $ 5,202 Salaries and benefits 11,271 13,797 Audit, legal and professional fees 5,353 4,943 Filing and listing fees 499 429 Directors fees and expenses 842 793 Depreciation 1,878 1,636 $ 24,855 $ 26,800

Note 8 - Mine Holding Costs

Note 8 - Mine Holding Costs	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of mine holding costs [text block]	8. The Company's mine holding costs are primarily comprised of labour costs associated with care and maintenance staffs, electricity, security, environmental and community support costs for the following mines which are currently under temporary suspension: Year Ended December 31, 2020 2019 Del Toro $ 7,999 $ — La Parrilla 5,563 5,010 San Martin 5,265 — La Guitarra 2,757 2,569 $ 21,583 $ 7,579

Note 9 - Investment and Other I

Note 9 - Investment and Other Income	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of finance income [text block]	9. The Company's investment and other income (loss) are comprised of the following: Year Ended December 31, 2020 2019 Gain from investment in marketable securities (Note 13 $ 1,973 $ 528 Gain from investment in silver futures derivatives 2,079 1,237 Interest income and other 1,075 6,344 $ 5,127 $ 8,109

Note 10 - Finance Costs

Note 10 - Finance Costs	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of finance cost [text block]	10. Finance costs are primarily related to interest and accretion expense on the Company's debt facilities, lease liabilities and accretion of decommissioning liabilities. The Company's finance costs in the period are summarized as follows: Year Ended December 31, 2020 2019 Debt facilities (1) $ 10,593 $ 10,885 Lease liabilities (Note 20) 1,479 1,142 Accretion of decommissioning liabilities 2,362 2,410 Silver sales and other 339 710 $ 14,773 $ 15,147 ( 1 Finance costs for debt facilities include $6.8 December 31, 2020 ( 2019 $6.4

Note 11 - Earnings or Loss Per

Note 11 - Earnings or Loss Per Share	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of earnings per share [text block]	11. Basic earnings or loss per share is the net earnings or loss available to common shareholders divided by the weighted average number of common shares outstanding during the period. Diluted net earnings or loss per share adjusts basic net earnings per share for the effects of potential dilutive common shares. The calculations of basic and diluted earnings or loss per share for the years ended December 31, 2020 2019 Year Ended December 31, 2020 2019 Net earnings (loss) for the year $ 23,087 $ (40,474 ) Weighted average number of shares on issue - basic 213,879,622 201,615,489 Impact of effect on dilutive securities: Stock options 1,705,689 — Restricted and performance share units 293,518 — Weighted average number of shares on issue - diluted (1) 215,878,829 201,615,489 Earnings (loss) per share - basic and diluted $ 0.11 $ (0.20 ) ( 1 For the year ended December 31, 2020, 2,666,819 2019 7,583,439 nil 2019 128,944 16,327,598 2019 16,327,598 19

Note 12 - Inventories

Note 12 - Inventories	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of inventories [text block]	12. Inventories consist primarily of materials and supplies and products of the Company's operations, in varying stages of the production process, and are presented at the lower of weighted average cost or net realizable value. December 31, 2020 December 31, 2019 Finished goods - doré $ 2,812 $ 1,965 Work-in-process 2,780 3,229 Stockpile 1,336 2,130 Silver coins and bullion 956 291 Materials and supplies 24,628 22,902 $ 32,512 $ 30,517 The amount of inventories recognized as an expense during the period is equivalent to the total of cost of sales plus depletion, depreciation and amortization for the period.

Note 13 - Other Financial Asset

Note 13 - Other Financial Assets	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of other assets [text block]	13. As at December 31, 2020, December 31, 2020 December 31, 2019 FVTPL marketable securities (a) $ 13,876 $ 5,626 FVTOCI marketable securities (b) 22,444 880 Total marketable securities $ 36,319 $ 6,506 Foreign currency derivatives (Note 24 — 982 Total other financial assets $ 36,319 $ 7,488 (a) Fair Value through Profit or Loss ("FVTPL") Marketable Securities Gain in marketable securities designated as FVTPL for the year ended December 31, 2020 $2.0 2019 $0.5 As consideration for the acquisition of the Springpole Silver Stream (Note 14 30 one CAD$0.40 five $5.7 $4.7 December 31, 2020. (b) Fair Value through Other Comprehensive Income ("FVTOCI") Marketable Securities Changes in fair value of marketable securities designated as FVTOCI for the year ended December 31, 2020 $10.5 2019 $0.3 not As part of the consideration received for the option arrangement of the La Joya Project (see Note 14 September 2020, 5,146,401 $6.9 September December 2020, two 700,000 $0.7 December 31, 2020, $8.6 As part of consideration received for the sale of the Plomosas Silver Project (see Note 14 17,097,500 $1.7 March 27, 2020. May 2020, $0.8 4,000,000 2,000,000 one CAD$0.40 December 31, 2020, $12.9

Note 14 - Mining Interests

Note 14 - Mining Interests	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of exploration and evaluation assets [text block]	14. Mining interests primarily consist of acquisition, development and exploration costs directly related to the Company's operations and projects. Upon commencement of commercial production, mining interests for producing properties are depleted on a units-of-production basis over the estimated economic life of the mine. In applying the units of production method, depletion is determined using quantity of material extracted from the mine in the period as a portion of total quantity of material, based on reserves and resources, considered to be highly probable to be economically extracted over the life of mine plan. The Company's mining interests are comprised of the following: December 31, 2020 December 31, 2019 Depletable properties $ 392,185 $ 367,348 Non-depletable properties (exploration and evaluation costs) 117,545 96,043 $ 509,730 $ 463,391 Depletable properties are allocated as follows: Depletable properties San Dimas Santa Elena La Encantada Non-producing Properties (1) Total Cost At December 31, 2018 $ 193,305 $ 45,041 $ 99,436 $ 478,883 $ 816,665 Additions 24,596 6,813 5,995 9,088 46,492 Change in decommissioning liabilities (Note 21 301 2,338 500 6,161 9,300 Transfer from exploration properties 2,456 7,462 5,659 — 15,577 At December 31, 2019 $ 220,658 $ 61,654 $ 111,590 $ 494,132 $ 888,034 Additions 21,263 6,218 4,201 — 31,682 Change in decommissioning liabilities (Note 21 4,527 1,191 2,049 3,059 10,826 Transfer from exploration properties 3,645 4,229 472 — 8,346 At December 31, 2020 $ 250,093 $ 73,292 $ 118,312 $ 497,191 $ 938,888 Accumulated depletion, amortization and impairment At December 31, 2018 $ (10,871 ) $ (11,594 ) $ (59,872 ) $ (380,677 ) $ (463,014 ) Depletion and amortization (16,354 ) (5,014 ) (6,025 ) (7,677 ) (35,070 ) Impairment — — (22,602 ) — (22,602 ) At December 31, 2019 $ (27,225 ) $ (16,608 ) $ (88,499 ) $ (388,354 ) $ (520,686 ) Depletion and amortization (18,277 ) (3,792 ) (3,948 ) — (26,017 ) At December 31, 2020 $ (45,502 ) $ (20,400 ) $ (92,447 ) $ (388,354 ) $ (546,703 ) Carrying values At December 31, 2019 $ 193,433 $ 45,046 $ 23,091 $ 105,778 $ 367,348 At December 31, 2020 $ 204,592 $ 52,892 $ 25,865 $ 108,837 $ 392,185 ( 1 Non-producing properties include the San Martin, Del Toro, La Parrilla and La Guitarra mines. Non-depletable properties costs are allocated as follows: Non-depletable properties San Dimas(a) Santa Elena(b) La Encantada Non-producing Properties(1) Exploration Projects(2) Springpole Stream(c) Total At December 31, 2018 $ 3,705 $ 14,316 $ 5,660 $ 24,841 $ 33,440 $ — $ 81,962 Exploration and evaluation expenditures 7,450 11,738 2,164 8,097 1,032 — 30,481 Change in decommissioning liabilities (Note 21 — — — — 238 — 238 Impairment — — (1,061 ) — — — (1,061 ) Transfer to producing properties (2,456 ) (7,462 ) (5,659 ) — — — (15,577 ) At December 31, 2019 $ 8,699 $ 18,592 $ 1,104 $ 32,938 $ 34,710 $ — $ 96,043 Exploration and evaluation expenditures 12,125 19,588 2,323 4,066 1,142 4,356 43,601 Change in decommissioning liabilities (Note 21 — — — — 59 — 59 Sale of exploration project — — — — (13,812 ) — (13,812 ) Transfer to producing properties (3,645 ) (4,229 ) (472 ) — — — (8,346 ) At December 31, 2020 $ 17,179 $ 33,951 $ 2,955 $ 37,004 $ 22,099 $ 4,356 $ 117,545 ( 1 Non-producing properties include the San Martin, Del Toro, La Parrilla and La Guitarra mines. ( 2 Exploration projects include the La Luz, La Joya, Los Amoles, Jalisco Group of Properties and Jimenez del Tuel projects, as well as the Plomosas project which was sold during 2020. (a) San Dimas Silver/Gold Mine, Durango State In 2018, 25% 70 1 $600 1% May 2019) six 90:1 50:1, 90:1 50:1, 90:1 April 1, 2020 70:1 October 14, 2020 six 90:1. (b) Santa Elena Silver/Gold Mine, Sonora State The Santa Elena Mine is subject to a gold streaming agreement with Sandstorm, which requires the mine to sell 20% $464 1% April, (c) Springpole Silver Stream, Ontario, Canada On July 2, 2020, 50% $22.5 three 33% $7.50 2%, third 50% five Transaction consideration paid and payable by First Majestic is summarized as follows: • The first $10.0 $2.5 $7.5 805,698 July 2, 2020; • The second $3.75 $3.75 287,300 January 21, 2021 • The third $2.5 $2.5 20 In connection with the agreement, First Mining also granted First Majestic 30 one CAD$0.40 five $5.7 First Mining shall have the right to repurchase 50% $22.5 25% As at December 31, 2020, $10.0 $5.7 $4.3 First Mining is a related party with two (d) La Joya Silver Project, Durango, Mexico In August 2020, five 80% may 20% 100% To exercise its first 80% CAD$1.3 four 19.9% one $1 first five 2% first three $0.6 Silver Dollar may second 20% 100% 30 first 80% 5% five As at December 31, 2020, $0.3 5,146,401 $6.9 $0.6 $nil $6.5 (e) Plomosas Silver Project, Sinaloa, Mexico In March 2020, $1.7 17,097,500 $1.7 CAD$0.1 2% CAD$1.0 $11.8 $13.1 $10.2

Note 15 - Property, Plant and E

Note 15 - Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of property, plant and equipment [text block]	15. The majority of the Company's property, plant and equipment is used in the Company's operating mine segments. Property, plant and equipment is depreciated using either the straight-line or units-of-production method over the shorter of the estimated useful life of the asset or the expected life of mine. Where an item of property, plant and equipment comprises of major components with different useful lives, the components are accounted for as separate items of property, plant and equipment. Assets under construction are recorded at cost and re-allocated to land and buildings, machinery and equipment or other when they become available for use. Property, plant and equipment are comprised of the following: Land and Buildings (1) Machinery and Equipment Assets under Construction (2) Other Total Cost At December 31, 2018 $ 177,864 $ 430,862 $ 35,673 $ 23,410 $ 667,809 Additions — 1,991 44,709 521 47,221 Transfers and disposals 20,548 23,802 (52,737 ) 507 (7,880 ) At December 31, 2019 $ 198,412 $ 456,655 $ 27,645 $ 24,438 $ 707,150 Additions — 2,096 47,266 391 49,753 Transfers and disposals 917 9,873 (19,242 ) 3,822 (4,630 ) At December 31, 2020 $ 199,329 $ 468,624 $ 55,669 $ 28,651 $ 752,273 Accumulated depreciation, amortization and impairment At December 31, 2018 $ (111,258 ) $ (291,959 ) $ — $ (13,508 ) $ (416,725 ) Depreciation and amortization (4,980 ) (23,829 ) — (2,122 ) (30,931 ) Transfers and disposals 271 5,189 — 459 5,919 Impairment (13,073 ) (15,701 ) — — (28,774 ) At December 31, 2019 $ (129,040 ) $ (326,300 ) $ — $ (15,171 ) $ (470,511 ) Depreciation and amortization (4,188 ) (19,833 ) — (2,555 ) (26,576 ) Transfers and disposals 72 2,754 — 208 3,034 At December 31, 2020 $ (133,156 ) $ (343,379 ) $ — $ (17,518 ) $ (494,053 ) Carrying values At December 31, 2019 $ 69,372 $ 130,355 $ 27,645 $ 9,267 $ 236,639 At December 31, 2020 $ 66,173 $ 125,245 $ 55,669 $ 11,133 $ 258,220 ( 1 Included in land and buildings is $11.2 2019 $11.5 not ( 2 Assets under construction includes certain innovation projects, such as high-intensity grinding ("HIG") mills and related modernization, plant improvements, other mine infrastructures and equipment overhauls. Property, plant and equipment, including land and buildings, machinery and equipment, assets under construction and other assets above are allocated by mine as follow: San Dimas Santa Elena La Encantada Non-producing Properties(1) Other Total Cost At December 31, 2018 $ 127,763 $ 76,671 $ 132,146 $ 299,037 $ 32,192 $ 667,809 Additions 10,465 4,453 5,066 3,073 24,164 47,221 Transfers and disposals (1,925 ) 9,638 90 (4,870 ) (10,813 ) (7,880 ) At December 31, 2019 $ 136,303 $ 90,762 $ 137,302 $ 297,240 $ 45,543 $ 707,150 Additions(2) 10,384 7,933 4,209 272 26,955 49,753 Transfers and disposals 41 (1,364 ) 1,999 (3,751 ) (1,555 ) (4,630 ) At December 31, 2020 $ 146,728 $ 97,331 $ 143,510 $ 293,761 $ 70,943 $ 752,273 Accumulated depreciation, amortization and impairment At December 31, 2018 $ (7,545 ) $ (37,007 ) $ (89,086 ) $ (265,811 ) $ (17,276 ) $ (416,725 ) Depreciation and amortization (12,355 ) (6,989 ) (5,278 ) (4,378 ) (1,931 ) (30,931 ) Transfers and disposals 153 1,021 572 3,999 174 5,919 Impairment — — (28,774 ) — — (28,774 ) At December 31, 2019 $ (19,747 ) $ (42,975 ) $ (122,566 ) $ (266,190 ) $ (19,033 ) $ (470,511 ) Depreciation and amortization (15,032 ) (6,451 ) (2,646 ) (592 ) (1,855 ) (26,576 ) Transfers and disposals 156 1,340 (1,743 ) 2,909 372 3,034 At December 31, 2020 $ (34,623 ) $ (48,086 ) $ (126,955 ) $ (263,873 ) $ (20,516 ) $ (494,053 ) Carrying values At December 31, 2019 $ 116,556 $ 47,787 $ 14,736 $ 31,050 $ 26,510 $ 236,639 At December 31, 2020 $ 112,105 $ 49,245 $ 16,555 $ 29,888 $ 50,427 $ 258,220 ( 1 Non-producing properties include the San Martin, Del Toro, La Parrilla and La Guitarra mines. ( 2 Additions classified in "Other" primarily consist of innovation projects and construction-in-progress.

Note 16 - Right-of-use Assets

Note 16 - Right-of-use Assets	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of right-of-use assets [text block]	16. The Company entered into operating leases to use certain land, building, mining equipment and corporate equipment for its operations. The Company is required to recognize right-of-use assets representing its right to use these underlying leased asset over the lease term. Right-of-use asset is initially measured at cost, equivalent to its obligation for payments over the term of the leases, and subsequently measured at cost less accumulated depreciation and impairment losses. Depreciation is recorded on a straight-line basis over the shorter period of lease term and useful life of the underlying asset. Right-of-use assets are comprised of the following: Land and Buildings Machinery and Equipment Other Total At December 31, 2018 $ — $ — $ — $ — Initial adoption 2,624 1,036 22 3,682 Additions 571 14,132 — 14,703 Remeasurements 1,686 232 — 1,918 Depreciation and amortization (674 ) (1,286 ) (7 ) (1,967 ) Impairment — (6,302 ) — (6,302 ) At December 31, 2019 $ 4,207 $ 7,812 $ 15 $ 12,034 Additions 1,939 554 — 2,494 Remeasurements 2,789 (10 ) — 2,779 Depreciation and amortization (848 ) (2,106 ) (7 ) (2,961 ) Disposals — (16 ) — (16 ) At December 31, 2020 $ 8,087 $ 6,234 $ 8 $ 14,330

Note 17 - Impairment of Non-cur

Note 17 - Impairment of Non-current Assets	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of impairment of assets [text block]	17. The Company did not December 31, 2020. During the year ended December 31, 2019, 2019, Year Ended December 31, 2019 Impairment of non-current assets $ 58,739 Deferred income tax recovery (6,300 ) Impairment of non-current assets, net of tax $ 52,439 The impairment charge recognized for the year ended December 31, 2019 Mining interests Producing Exploration Right of use assets Property, plant and equipment Total La Encantada Silver Mine $ 22,602 $ 1,061 $ 6,302 $ 28,774 $ 58,739 Recoverable values are determined based on fair market value of the asset and estimated using internal discounted cash flow economic models projected using management's best estimate of recoverable mineral reserves and resources, future operating costs, capital expenditures and long-term foreign exchange rates. Metal price assumptions used to determine the recoverable amounts for the year ended December 31, 2019 December 31, 2019 2020-2023 Commodity Prices Average Long-term Silver (per ounce) $ 18.84 $ 19.50 Gold (per ounce) $ 1,536 $ 1,416 A discount rate of 4.5%, December 31, 2019 The internal discounted cash flow economic model used to determine FVLCD is significantly affected by changes in key assumptions for future metal prices, Reserve and Resource levels and recovery rates. Management's estimate of FVLCD is classified as level 3 no December 31, 2020.

Note 18 - Trade and Other Payab

Note 18 - Trade and Other Payables	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of trade and other payables [text block]	18. The Company's trade and other payables are primarily comprised of amounts outstanding for purchases relating to mining operations, exploration and evaluation activities and corporate expenses. The normal credit period for these purchases is usually between 30 90 Trade and other payables are comprised of the following items: December 31, 2020 December 31, 2019 Trade payables $ 31,262 $ 23,984 Trade related accruals 18,635 12,314 Payroll and related benefits 21,427 19,059 Environmental duty 2,156 1,483 Other accrued liabilities 2,522 2,283 $ 76,002 $ 59,123

Note 19 - Debt Facilities

Note 19 - Debt Facilities	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of debt instruments [text block]	19. The movement in debt facilities during the year ended December 31, 2020 December 31, 2019, Convertible Debentures (a) Revolving Credit Facility (b) Total Balance at December 31, 2018 $ 130,807 $ 18,705 $ 149,512 Finance costs Interest expense 2,975 1,498 4,473 Accretion 5,758 654 6,412 Payments of finance costs (2,933 ) (1,646 ) (4,579 ) Balance at December 31, 2019 $ 136,607 $ 19,211 $ 155,818 Finance costs Interest expense 2,984 763 3,747 Accretion 6,168 678 6,846 Proceeds from drawdown of Revolving Credit Facility — 10,000 10,000 Repayments of principal — (19,969 ) (19,969 ) Payments of finance costs (2,934 ) (801 ) (3,735 ) At December 31, 2020 $ 142,825 $ 9,882 $ 152,707 Statements of Financial Position Presentation Current portion of debt facilities $ 1,043 $ 132 $ 1,175 Non-current portion of debt facilities 135,564 19,079 154,643 Balance at December 31, 2019 $ 136,607 $ 19,211 $ 155,818 Current portion of debt facilities $ 1,092 $ 9,882 $ 10,975 Non-current portion of debt facilities 141,733 — 141,733 At December 31, 2020 $ 142,825 $ 9,882 $ 152,707 (a) Convertible Debentures During the first 2018, $156.5 $151.1 $5.4 March 1, 2023 1.875% March September The Notes are convertible into common shares of the Company at any time prior to maturity at a conversion rate of 104.3297 $1,000 $9.59 may The Company may not March 6, 2021, March 6, 2021 may 20 30 130% $12.47 100% The Company is required to offer to purchase for cash all of the outstanding Notes upon a fundamental change, at a cash purchase price equal to 100% The component parts of the convertible debentures, a compound instrument, are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement and the definitions of a financial liability and an equity instrument. A conversion option that will be settled by the exchange of a fixed amount of cash or another financial asset for a fixed number of the Company's own equity instrument is an equity instrument. At initial recognition, net proceeds of $151.1 $124.8 five 6.14%. 6.47% The conversion option is classified as equity and was estimated based on the residual value of $26.3 not $7.1 Transaction costs of $5.4 (b) Revolving Credit Facility On May 10, 2018, $75.0 third May 10, 2021. 2.25% 3.5% 0.5625% 0.875%, December 31, 2020, 2.9% 0.6875%, These debt facilities are guaranteed by certain subsidiaries of the Company and are also secured by a first first The Revolving Credit Facility includes financial covenants, to be tested quarterly on a consolidated basis, requiring First Majestic to maintain the following: (a) a leverage ratio based on total debt to rolling four not 3.00 1.00; four not 4.00 1.00; not $563.5 50% June 30, 2018. $30.0 December 31, 2020 December 31, 2019,

Note 20 - Lease Liabilities

Note 20 - Lease Liabilities	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of leases liabilities [text block]	20. The Company has finance leases, operating leases and equipment financing liabilities for various mine and plant equipment, office space and land. Finance leases and equipment financing obligations require underlying assets to be pledged as security against the obligations and all of the risks and rewards incidental to ownership of the underlying asset being transferred to the Company. For operating leases, the Company controls but does not Lease liabilities are initially measured at the present value of the lease payments that are not Certain lease agreements may The movement in lease liabilities during the year ended December 31, 2020 December 31, 2019 Finance Leases (a) Operating Leases (b) Equipment Financing (c) Total Balance at December 31, 2018 $ 409 $ — $ 5,438 $ 5,847 Initial adoption of IFRS 16 — 3,682 — 3,682 Additions — 14,706 — 14,706 Remeasurements — 1,918 — 1,918 Finance costs 18 789 335 1,142 Repayments of principal (359 ) (2,395 ) (2,459 ) (5,213 ) Payments of finance costs (18 ) — (379 ) (397 ) Foreign exchange loss — 251 — 251 Balance at December 31, 2019 $ 50 $ 18,951 $ 2,935 $ 21,936 Additions — 2,494 — 2,494 Remeasurements — 2,779 — 2,779 Finance costs — 1,396 83 1,479 Repayments of principal (50 ) (5,353 ) (2,303 ) (7,706 ) Payments of finance costs — — (126 ) (126 ) Foreign exchange gain — (281 ) — (281 ) At December 31, 2020 $ — $ 19,986 $ 589 $ 20,575 Statements of Financial Position Presentation Current portion of lease liabilities $ 50 $ 4,518 $ 2,352 $ 6,920 Non-current portion of lease liabilities — 14,433 583 15,016 Balance at December 31, 2019 $ 50 $ 18,951 $ 2,935 $ 21,936 Current portion of lease liabilities $ — $ 4,820 $ 538 $ 5,358 Non-current portion of lease liabilities — 15,166 51 15,217 At December 31, 2020 $ — $ 19,986 $ 589 $ 20,575 (a) Finance Leases From time to time, the Company may 24 48 December 31, 2020, (b) Operating Leases Operating leases primarily relate to equipment and building rental contracts, land easement contracts and service contracts that contain embedded leases for property, plant and equipment. These operating leases have remaining lease terms of one ten 5.8% 12.4%. During the year ended December 31, 2020 2019, Year Ended December 31, 2020 Year Ended December 31, 2019 Expenses relating to variable lease payments not included in the measurement of lease liability $ 25,560 $ 14,241 Expenses relating to short-term leases 19,607 42,994 Expenses relating to low value leases 81 — $ 45,248 $ 57,235 (c) Equipment Financing During 2017, $7.9 12 16 4.60%. four December 31, 2020 December 31, 2019, As at December 31, 2020, $1.9 2019 $3.3

Note 21 - Decommissioning Liabi

Note 21 - Decommissioning Liabilities	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of decommissioning liability explanatory [text block]	21. The Company has an obligation to undertake decommissioning, restoration, rehabilitation and environmental work when environmental disturbance is caused by the development and ongoing production of a mining operation. Movements in decommissioning liabilities during the years ended December 31, 2020 2019 San Dimas Santa Elena La Encantada San Martin La Parrilla Del Toro La Guitarra La Luz Total Balance at December 31, 2018 $ 8,412 $ 2,321 $ 6,709 $ 2,694 $ 3,245 $ 2,498 $ 1,615 $ 302 $ 27,796 Movements during the year: Change in rehabilitation provision 301 2,338 500 4,051 696 945 469 238 9,538 Reclamation costs incurred — — — — — — (104 ) — (104 ) Interest or accretion expense 744 207 592 237 282 219 129 — 2,410 Foreign exchange loss (15 ) 105 311 121 114 107 69 76 888 Balance at December 31, 2019 $ 9,442 $ 4,971 $ 8,112 $ 7,103 $ 4,337 $ 3,769 $ 2,178 $ 616 $ 40,528 Movements during the year: Disposition of exploration project — — — — — — (153 ) — (153 ) Change in rehabilitation provision 4,527 1,191 2,049 1,240 830 772 217 59 10,885 Reclamation costs incurred — (55 ) — (81 ) (20 ) — — — (156 ) Interest or accretion expense 565 295 477 418 259 226 122 — 2,362 Foreign exchange loss (476 ) (252 ) (415 ) (359 ) (216 ) (190 ) (86 ) (2 ) (1,995 ) Balance at December 31, 2020 $ 14,059 $ 6,150 $ 10,223 $ 8,321 $ 5,190 $ 4,577 $ 2,278 $ 673 $ 51,471 A provision for decommissioning liabilities is estimated based on current regulatory requirements and is recognized at the present value of such costs. The expected timing of cash flows in respect of the provision is based on the estimated life of the Company's mining operations. The discount rate is a risk-free rate determined based on Mexican pesos default swap rates ranging between 5.0% 5.3% 2019 6.6% 6.8% The inflation rate used is based on historical Mexican inflation rate of 3.9% 2019 4.0% may

Note 22 - Income Taxes

Note 22 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of income tax [text block]	22. The following is a reconciliation of income taxes calculated at the combined Canadian federal and provincial statutory tax rate to the income tax expense for the year ended December 31, 2020 2019: Year Ended December 31, 2020 2019 Earnings (loss) before tax $ 29,729 $ (39,024 ) Combined statutory tax rate 27.00 % 27.00 % Income tax expense (recovery) computed at statutory tax rate 8,027 (10,536 ) Reconciling items: Effect of different foreign statutory tax rates on earnings of subsidiaries (4,760 ) (24,320 ) Impact of foreign exchange on deferred income tax assets and liabilities 15,688 (10,194 ) Change in unrecognized deferred income tax asset (4,596 ) 30,399 7.5% mining royalty in Mexico 7,415 (814 ) Other non-deductible expenses 758 3,256 Impact of inflationary adjustments (1,317 ) (2,412 ) Change in tax provision estimates 10,387 23,987 Impact of divestitures and restructurings (16,724 ) — Other (8,236 ) (7,916 ) Income tax expense $ 6,642 $ 1,450 Statements of Earnings (Loss) Presentation Current income tax expense $ 9,966 $ 16,423 Deferred income tax recovery (3,324 ) (14,973 ) Income tax expense $ 6,642 $ 1,450 Effective tax rate 22 % (4 %) As at December 31, 2020 2019, Year Ended December 31, 2020 2019 Current income tax receivable $ — $ — Non-current income tax receivable — 4,579 $ — $ 4,579 Current income tax payable $ 6,574 $ 149 Non-current income tax payable 23,099 — $ 29,673 $ 149 During the years ended December 31, 2020 2019, Deferred tax assets Losses Provisions Deferred tax asset not recognized Other Total At December 31, 2018 $ 118,393 $ 16,508 $ (68,348 ) $ 3,556 $ 70,109 Benefit (expense) to income statement 8,079 6,379 (32,156 ) 4,295 (13,403 ) Charged to equity — — — 994 994 At December 31, 2019 $ 126,472 $ 22,887 $ (100,504 ) $ 8,845 $ 57,700 Benefit to income statement 21,327 2,389 11,788 456 35,960 At December 31, 2020 $ 147,799 $ 25,276 $ (88,716 ) $ 9,301 $ 93,660 Deferred tax liabilities Property, plant and equipment and mining interests Effect of Mexican tax deconsolidation Other Total At December 31, 2018 $ 65,382 $ 6,744 $ 37,688 $ 109,814 (Benefit) expense to income statement (32,381 ) 498 (4,643 ) (36,526 ) Reclassed to current income taxes payable — (2,813 ) — (2,813 ) At December 31, 2019 $ 33,001 $ 4,429 $ 33,045 $ 70,475 (Benefit) expense to income statement 23,883 (113 ) (18,311 ) 5,459 Reclassed to current income taxes payable — (2,245 ) — (2,245 ) Charged to OCI — — 1,633 1,633 Divestiture of exploration projects — — (2,577 ) (2,577 ) At December 31, 2020 $ 56,884 $ 2,071 $ 13,790 $ 72,745 Statements of Financial Position Presentation Deferred tax assets $ 51,141 Deferred tax liabilities 63,916 At December 31, 2019 $ 12,775 Deferred tax assets $ 69,644 Deferred tax liabilities 48,729 At December 31, 2020 $ (20,915 ) At December 31, 2020, $69.6 2019 $51.1 2020 2019, The aggregate amount of taxable temporary differences associated with investments in subsidiaries for which deferred taxes have not December 31, 2020 $236.5 2019 $379.3 As at December 31, 2020 2019, not Year of expiry Canadian non-capital losses Mexican non-capital losses December 31, 2020 December 31, 2019 2020 $ — $ — $ — 544 2021 — 3,835 3,835 7,825 2022 — 3,878 3,878 4,060 2023 — 2,071 2,071 2,213 2024 — 34,964 34,964 39,319 2025 — 38,901 38,901 51,911 2026 — 104,044 104,044 113,630 2027 — 21,040 21,040 56,760 2028 — 57,809 57,809 99,315 2029 — 68,074 68,074 89,754 2030 and after 3,141 149,721 152,862 22,209 Total $ 3,141 $ 484,337 $ 487,478 $ 487,540 Unrecognized losses $ — $ 199,775 $ 199,775 $ 208,253

Note 23 - Share Capital

Note 23 - Share Capital	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of issued capital [text block]	23. (a) Authorized and issued capital The Company has unlimited authorized common shares with no The movement in the Company's issued and outstanding capital during the year is summarized in the consolidated statements of changes in equity. Year Ended December 31, 2020 Year Ended December 31, 2019 Number of Shares Net Proceeds Number of Shares Net Proceeds ATM program (1) 5,654,338 $ 67,892 11,172,982 $ 81,916 Prospectus offering (2) 5,000,000 58,240 — — 10,654,338 $ 126,132 11,172,982 $ 81,916 ( 1 In December 2018, August 2019 June 2020, may, $200.0 44 102 December 31, 2020, 5,654,338 December 31, 2019 - 11,172,982 $12.31 2019 $7.55 $69.6 December 31, 2019 - $84.4 $67.9 December 31, 2019 - $81.9 December 31, 2020, $154.0 $46.0 ( 2 In September 2020, 5,000,000 $11.82 CAD$15.60 $59.1 CAD$78.1 $58.2 (b) Stock options Under the terms of the Company's 2020 8% may ten not 25% first 25% six The following table summarizes information about stock options outstanding as at December 31, 2020: Options Outstanding Options Exercisable Exercise prices (CAD$) Number of Options Weighted Average Exercise Price (CAD $/Share) Weighted Average Remaining Life (Years) Number of Options Weighted Average Exercise Price (CAD $/Share) Weighted Average Remaining Life (Years) 4.80 - 10.00 2,821,206 8.60 7.70 1,323,015 8.67 7.07 10.01 - 15.00 3,276,063 12.23 4.96 1,833,567 11.12 1.46 15.01 - 20.00 831,928 15.95 7.59 117,232 16.04 1.14 20.01 - 126.01 144,895 53.85 0.68 144,895 53.85 0.68 7,074,092 12.07 6.27 3,418,709 12.15 3.59 The movements in stock options issued during the years ended December 31, 2020 2019 Year Ended Year Ended December 31, 2020 December 31, 2019 Number of Options Weighted Average Exercise Price (CAD $/Share) Number of Options Weighted Average Exercise Price (CAD $/Share) Balance, beginning of the year 7,583,439 10.70 9,266,098 10.76 Granted 2,621,924 13.46 2,601,680 8.83 Exercised (2,473,926 ) 7.50 (2,918,518 ) 7.54 Cancelled or expired (657,345 ) 18.96 (1,365,821 ) 14.31 Balance, end of the year 7,074,092 12.07 7,583,439 10.70 During the year ended December 31, 2020, $12.1 December 31, 2019 $8.5 $4.63 December 31, 2019 - $3.26 During the year ended December 31, 2020, $7.0 2019 $6.5 The following weighted average assumptions were used in estimating the fair value of stock options granted using the Black-Scholes Option Pricing Model: Year Ended Year Ended Assumption Based on December 31, 2020 December 31, 2019 Risk-free interest rate (%) Yield curves on Canadian government zero- coupon bonds with a remaining term equal to the stock options' expected life 1.03 2.01 Expected life (years) Average of the expected vesting term and expiry term of the option 5.83 5.80 Expected volatility (%) Historical and implied volatility of the precious metals mining sector 49.00 51.29 Expected dividend yield (%) Annualized dividend rate as of the date of grant — — The weighted average closing share price at date of exercise for the year ended December 31, 2020 CAD$15.61 December 31, 2019 CAD$12.81 (c) Restricted Share Units The Company adopted the 2019 three The associated compensation cost is recorded as share-based payments expense against equity reserves. The following table summarizes the changes in RSU's for the years ended December 31, 2020 2019: Year Ended December 31, 2020 Year Ended December 31, 2019 Number of shares Weighted Average Fair Value (CAD$) Number of shares Weighted Average Fair Value (CAD$) Outstanding, beginning of the year 128,944 10.36 — — Granted 211,192 15.72 274,520 9.67 Settled (127,000 ) 10.32 (145,576 ) 9.06 Forfeited (28,653 ) 15.93 — — Outstanding, end of the year 184,483 15.66 128,944 10.36 During the year ended December 31, 2020, $0.8 2019 $1.8 The Company adopted the 2019 0% 200% three The following table summarizes the changes in PSU's granted to employees and consultants for the year ended December 31, 2020: Year Ended December 31, 2020 Number of shares Weighted Average Fair Value (CAD$) Outstanding, beginning of the year — — Granted 122,575 15.65 Forfeited (13,540 ) (15.93 ) Outstanding, end of the year 109,035 19.57 During the year ended December 31, 2020, $0.5 2019 $nil (e) Share Repurchase Program The Company has an ongoing share repurchase program to repurchase up to 5% December 31, 2020, 275,000 $1.7 No December 31, 2019.

Note 24 - Financial Instruments

Note 24 - Financial Instruments and Related Risk Management	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of financial risk management [text block]	24. The Company's financial instruments and related risk management objectives, policies, exposures and sensitivity related to financial risks are summarized below. (a) Fair value and categories of financial instruments Financial instruments included in the consolidated statements of financial position are measured either at fair value or amortized cost. Estimated fair values for financial instruments are designed to approximate amounts for which the instruments could be exchanged in an arm's-length transaction between knowledgeable and willing parties. The Company uses various valuation techniques in determining the fair value of financial assets and liabilities based on the extent to which the fair value is observable. The following fair value hierarchy is used to categorize and disclose the Company's financial assets and liabilities held at fair value for which a valuation technique is used: Level 1: Level 2: Level 3: not The table below summarizes the valuation methods used to determine the fair value of each financial instrument: Financial Instruments Measured at Fair Value Valuation Method Trade receivables (related to concentrate sales) Receivables that are subject to provisional pricing and final price adjustment at the end of the quotational period are estimated based on observable forward price of metal per London Metal Exchange (Level 2 Marketable securities Based on quoted market prices for identical assets in an active market (Level 1 Silver futures derivatives Foreign currency derivatives Financial Instruments Measured at Amortized Cost Valuation Method Cash and cash equivalents Approximated carrying value due to their short-term nature Trade and other receivables Trade and other payables Debt facilities Assumed to approximate carrying value as discount rate on these instruments approximate the Company's credit risk. The following table presents the Company's fair value hierarchy for financial assets and financial liabilities that are measured at fair value: December 31, 2020 December 31, 2019 Fair value measurement Fair value measurement Carrying value Level 1 Level 2 Carrying value Level 1 Level 2 Financial assets Trade receivables $ — $ — $ — $ 1,182 $ — $ 1,182 Marketable securities (Note 13 36,319 30,996 5,323 6,506 6,506 — Foreign currency derivatives (Note 13) — — — 982 982 — There were no 1, 2 3 December 31, 2020 2019. (b) Capital risk management The Company's objectives when managing capital are to maintain financial flexibility to continue as a going concern while optimizing growth and maximizing returns of investments from shareholders. The Company monitors its capital structure and, based on changes in operations and economic conditions, may The capital of the Company consists of equity (comprising of issued capital, equity reserves and retained earnings or accumulated deficit), debt facilities, lease liabilities, net of cash and cash equivalents as follows: December 31, 2020 December 31, 2019 Equity $ 850,236 $ 662,321 Debt facilities 152,708 155,818 Lease liabilities 20,575 21,936 Less: cash and cash equivalents (238,578 ) (169,009 ) $ 784,941 $ 671,066 The Company's investment policy is to invest its cash in highly liquid short-term investments with maturities of 90 12 The Company is not 19 December 31, 2020 December 31, 2019, (c) Financial risk management The Company thoroughly examines the various financial instruments and risks to which it is exposed and assesses the impact and likelihood of those risks. These risks may Credit Risk Credit risk is the risk of financial loss if a customer or counterparty fails to meet its contractual obligations. The Company's credit risk relates primarily to chartered banks, trade receivables in the ordinary course of business, value added taxes receivable and other receivables. As at December 31, 2020, $56.9 2019 $29.6 $37.9 2019 $14.2 not December 31, 2020, $15.3 The Company sells and receives payment upon delivery of its silver doré and by-products primarily through three 60 not The carrying amount of financial assets recorded in the consolidated financial statements represents the Company's maximum exposure to credit risk. With the exception to the above, the Company believes it is not Liquidity Risk Liquidity risk is the risk that the Company will not The following table summarizes the maturities of the Company's financial liabilities as at December 31, 2020 Carrying Amount Contractual Cash Flows Less than 1 year 2 to 3 years 4 to 5 years After 5 years Trade and other payables $ 76,002 $ 76,002 $ 76,002 $ — $ — $ — Debt facilities 152,708 174,082 13,180 160,902 — — Lease liabilities 20,575 16,520 4,557 6,562 4,692 709 Other liabilities 5,406 5,406 — — — 5,406 $ 254,691 $ 272,010 $ 93,739 $ 167,464 $ 4,692 $ 6,115 At December 31, 2020, $254.4 December 31, 2019 $171.1 December 31, 2020 $319.4 $65.0 The Company believes it has sufficient cash on hand, combined with cash flows from operations, to meet operating requirements as they arise for at least the next 12 may Currency Risk The Company is exposed to foreign exchange risk primarily relating to financial instruments that are denominated in Canadian dollars or Mexican pesos, which would impact the Company's net earnings or loss. To manage foreign exchange risk, the Company may The sensitivity of the Company's net earnings or loss and comprehensive income or loss due to changes in the exchange rates of the Canadian dollar and the Mexican peso against the U.S. dollar is included in the table below: December 31, 2020 Cash and cash equivalents Trade and other receivables Value added taxes receivable Other financial assets Trade and other payables Net assets (liabilities) exposure Effect of +/- 10% change in currency Canadian dollar $ 75,958 $ 74 $ — $ 10,140 $ (3,133 ) $ 83,039 $ 8,304 Mexican peso 8,369 — 53,201 — (42,763 ) 18,807 1,881 $ 84,327 $ 74 $ 53,201 $ 10,140 $ (45,896 ) $ 101,846 $ 10,185 The Company utilizes certain derivatives to manage its foreign exchange exposures to the Mexican Peso. During the year ended December 31, 2020, $11.5 2019 $2.1 $0.9 2019 $1.0 December 31, 2020, not 2019 $0.9 Commodity Price Risk The Company is exposed to commodity price risk on silver and gold, which have a direct and immediate impact on the value of its related financial instruments and net earnings. The Company's revenues are directly dependent on commodity prices that have shown volatility and are beyond the Company's control. The Company does not The following table summarizes the Company's exposure to commodity price risk and their impact on net earnings: December 31, 2020 Effect of +/- 10% change in metal prices Silver Gold Total Metals in doré inventory $ 104 $ 226 $ 330 $ 104 $ 226 $ 330 Interest Rate Risk The Company is exposed to interest rate risk on its short-term investments, debt facilities and lease liabilities. The Company monitors its exposure to interest rates and has not As at December 31, 2020, December 31, 2020, 25 not

Note 25 - Supplemental Cash Flo

Note 25 - Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of cash flow statement [text block]	25. Year Ended December 31, 2020 2019 Other adjustments to investing activities: Purchase of marketable securities $ (1,522 ) $ — Proceeds from disposal of marketable securities 664 867 Cash received on settlement of derivatives 2,079 2,555 $ 1,221 $ 3,422 Net change in non-cash working capital items: Decrease in trade and other receivables $ 24 $ 1,304 (Increase) decrease in value added taxes receivable (27,525 ) 30,028 (Increase) decrease in inventories (4,288 ) 2,829 (Increase) decrease in prepaid expenses and other (692 ) 776 Decrease in income taxes payable (1,115 ) (6,569 ) Increase in trade and other payables 10,765 8,959 $ (22,831 ) $ 37,327 Non-cash investing and financing activities: Transfer of share-based payments reserve upon settlement of RSUs $ 992 $ 988 Transfer of share-based payments reserve upon exercise of options 5,903 5,986 Acquisition of mining interests (8,179 ) — As at December 31, 2020, $6.4 2019 $5.2 12

Note 26 - Contingencies and Oth

Note 26 - Contingencies and Other Matters	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of contingent liabilities [text block]	26. Due to the size, complexity and nature of the Company's operations, various legal and tax matters arise in the ordinary course of business. The Company accrues for such items when a liability is probable and the amount can be reasonably estimated. In the opinion of management, these matters will not Claims and Legal Proceedings Risks The Company is subject to various claims and legal proceedings covering a wide range of matters that arise in the ordinary course of business activities. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may may may may Although the Company has taken steps to verify ownership and legal title to mineral properties in which it has an interest, according to the usual industry standards for the stage of mining, development and exploration of such properties, these procedures do not may may not Primero Tax Rulings When Primero Mining Corp. ("Primero") acquired the San Dimas Mine in August 2010, 100% 6 50% $4.04 1%. In order to reflect commercial realities and the effects of the Old Stream Agreement, for Mexican income tax purposes, PEM recognized the revenue on these silver sales based on its actual realized revenue (“PEM Realized Price”) instead of at spot market prices. To obtain assurance that the SAT would accept the PEM Realized Price as the price to use to calculate Mexican income taxes, Primero applied for and received an Advance Pricing Agreement (“APA”) from the SAT. The APA confirmed that the PEM Realized Price would be used as Primero's basis for calculating taxes owed by Primero on the silver sold under the Old Stream Agreement. Primero believed that the intent of an APA was to have SAT provide tax certainty and as a result made significant investments in Mexico based on that certainty. On October 4, 2012, five 2010 2014. In February 2016, not may 2010 2014. 2010 2018 $219.2 4,373 In 2019, 2010 2012 $246.6 4,919 May 2020. no While the Company continues to vigorously defend the validity of the APA and its transfer pricing position, it is also engaging in various proceedings with the SAT seeking to resolve matters and bring tax certainty through a negotiated solution. Despite these extensive efforts and ongoing legal challenges to the Reassessments and the Dismissals, in April 2020, The Company has challenged SAT's Reassessments and Dismissals through all domestic means available to it, including annulment suits before the Mexican Federal Tax Court on Administrative Matters ("Federal Court"), which has yet to be resolved, and a complaint before Mexico's Federal Taxpayer Defense Attorney's Office (known as “PRODECON”), which determined that PEM has all legal remedies at its disposal and it has already challenged every SAT ruling, thus the matter must be decided by Mexican Courts. The Company believes that these actions are neither fair nor equitable and are discriminatory against the Company as a foreign investor and amount to a denial of justice under international law, in addition to violating various provisions of the Federal Constitution of the United Mexican States and Mexican domestic law, and Mexican court precedents. As a result, on May 13, 2020, 90 August 11, 2020, 90 In September 2020, (i) SAT's errors in analyzing PEM's request for the APA and the evidence provided in support of the request; and (ii) SAT's failure to request from PEM certain additional information before issuing the APA. The Company's legal advisors reviewed the written reasons and are of the view that the Federal Court's decision is flawed both due to SAT's procedural irregularities and failure to address the relevant evidence and legal authorities. In addition, they consider that the laws applied to PEM in the decision are unconstitutional. As a result, the Company filed an appeal of the decision to the Mexican Circuit Courts on November 30, 2020. Based on the Company's assessments with third no To the extent it is ultimately determined that the appropriate price of silver sales under the Old Stream Agreement is significantly different from the PEM Realized Price and while PEM would have rights of appeal in connection with any reassessments, it is likely to have a material effect on the Company's business, financial position and results of operations. La Encantada Tax Re-assessments In December 2019, 2012 2013 $7.8 $6.3 no First Silver litigation In April 2013, $93.8 $14.1 June 2013 $62.8 CAD$81.5 no December 31, 2020, not $64.2 CAD$81.5

Note 27 - Subsidiaries

Note 27 - Subsidiaries	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of basis of consolidation [text block]	27. The consolidated financial statements of the Company include the following significant subsidiaries as at December 31, 2020 2019 Name of subsidiary Operations and Projects Location 2020 % Ownership 2019 % Ownership First Majestic Silver Corp. Parent company and bullion sales Canada 100 % 100 % Corporación First Majestic, S.A. de C.V. Holding company Mexico 100 % 100 % Primero Empresa Minera, S.A de C.V. San Dimas Silver/Gold Mine Mexico 100 % 100 % Nusantara de Mexico, S.A. de C.V. Santa Elena Silver/Gold Mine Mexico 100 % 100 % Minera La Encantada, S.A. de C.V. La Encantada Silver Mine Mexico 100 % 100 % First Majestic Plata, S.A. de C.V. La Parrilla Silver Mine Mexico 100 % 100 % Minera El Pilón, S.A. de C.V. San Martin Silver Mine Mexico 100 % 100 % First Majestic Del Toro, S.A. de C.V. Del Toro Silver Mine Mexico 100 % 100 % La Guitarra Compañia Minera, S.A. de C.V. La Guitarra Silver Mine Mexico 100 % 100 % Majestic Services, S.A. de C.V. Service company Mexico 100 % 100 % FM Metal Trading (Barbados) Ltd. Metals trading company Barbados 100 % 100 % FMS Trading AG Metals trading company Switzerland 100 % 100 %

Note 28 - Key Management Compen

Note 28 - Key Management Compensation	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of transactions between related parties [text block]	28. Year Ended December 31, 2020 2019 Salaries, bonuses, fees and benefits Independent members of the Board of Directors $ 803 $ 790 Other members of key management 3,937 4,267 Share-based payments Independent members of the Board of Directors 402 439 Other members of key management 2,646 2,975 $ 7,788 $ 8,471

Note 29 - Subsequent Events

Note 29 - Subsequent Events	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of events after reporting period [text block]	29. Completion of Second Payment to First Mining for Acquisition of the Springpole Stream On January 21, 2021, second $7.5 $3.75 287,300 January 20, 2021 30,000 11

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Discloure of Significant Accounting Policies
Description of accounting policy for new and amended IFRS standards [text block]	A mended IFRS standards that are effective for the current year In the current year, the Company has applied the below amendments to IFRS Standards and Interpretations issued by the International Accounting Standards Board ("IASB") that were effective for annual periods that begin on or after January 1, 2020. not Interest Rate Benchmark Reform (Amendments to IFRS 9, 39 7 The amendments in Interest Rate Benchmark Reform (Amendments to IFRS 9, 39 7 not not not Amendments to IFRS 16 To provide practical relief to lessees in accounting for rent concessions arising as a result of COVID- 19 16 19 June 1, 2020, not not 19 Amendments to IFRS 3 The amendments clarify that while businesses usually have outputs, outputs are not Additional guidance is provided that helps to determine whether a substantive process has been acquired. The amendments introduce an optional concentration test that permits a simplified assessment of whether an acquired set of activities and assets is not not The amendments are applied prospectively to all business combinations and asset acquisitions for which the acquisition date is on or after the first January 1, 2020.
Description of accounting policy for business combinations, explanatory [text block]	Business Combinations Accounting Policy: Acquisitions of businesses are accounted for using the acquisition method. The consideration of each business combination is measured, at the date of the exchange, as the aggregate of the fair value of assets given, liabilities incurred or assumed and equity instruments issued by the Company to the former owners of the acquiree in exchange for control of the acquiree. Acquisition-related costs incurred for the business combination are expensed. The acquiree's identifiable assets, liabilities and contingent liabilities are recognized at their fair value at the acquisition date. Goodwill arising on acquisition is recognized as an asset and initially measured at cost, being the excess of the consideration of the acquisition over the Company's interest in the fair value of the net identifiable assets, liabilities and contingent liabilities recognized. If the Company's interest in the fair value of the acquiree's net identifiable assets, liabilities and contingent liabilities exceeds the cost of the acquisition, the excess is recognized in earnings or loss immediately. Goodwill may
Description of accounting policy for goodwill [text block]	Goodwill Accounting Policy: Goodwill arising on the acquisition of a business is carried at cost as established at the date of the acquisition less accumulated impairment losses, if any. Goodwill is allocated to each of the Company's cash-generating units that is expected to benefit from the synergies of the acquisition. A cash-generating unit to which goodwill has been allocated is tested for impairment annually, or more frequently when there is an indication that the unit may first not December 31, 2020, $nil 2019 $nil
Description of accounting policy for functional currency [text block]	Foreign Currency Accounting Policy: The consolidated financial statements are presented in U.S. dollars. The individual financial statements of each entity are presented in their functional currency, which is the currency of the primary economic environment in which the entity operates. Transactions in foreign currencies are translated into the entities' functional currencies at the exchange rates at the date of the transactions. Monetary assets and liabilities of the Company's operations denominated in a currency other than the U.S. dollar are translated using exchange rates prevailing at the date of the statement of financial position. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates on the dates of the transactions. Revenue and expense items are translated at the exchange rates in effect at the date of the underlying transaction, except for depletion and depreciation related to non-monetary assets, which are translated at historical exchange rates. Exchange differences are recognized in the statements of earnings or loss in the period in which they arise. Accounting Estimates and Judgments: Determination of Functional Currency The functional currency for each of the Company's subsidiaries is the currency of the primary economic environment in which the entity operates. The Company has determined that the functional currency of each entity is the U.S. dollar. Determination of functional currency may
Description of accounting policy for recognition of revenue [text block]	Revenue Recognition ( Note 5 ) Accounting Policy: The Company's primary product is silver. Other metals, such as gold, lead and zinc, produced as part of the extraction process are considered to be by-products arising from the production of silver. Smelting and refining charges are net against revenue from the sale of metals. Revenue relating to the sale of metals is recognized when control of the metal or related services are transferred to the customer in an amount that reflects the consideration the Company expects to receive in exchange for the metals. When considering whether the Company has satisfied its performance obligation, it considers the indicators of the transfer of control, which include, but are not Accounting Policy: Metals in doré sold are priced on date of transfer of control. Final weights and assays are adjusted on final settlement which is approximately one one three Revenue from the sale of coins, ingots and bullion is recorded when the products have been shipped and funds have been received. When cash was received from customers prior to shipping of the related finished goods, the amounts are recorded as unearned revenue until the products are shipped.
Description of accounting policy for measuring inventories [text block]	Inventories ( Note 12 ) Accounting Policy: Mineral inventories, including stockpiled ore, work in process and finished goods, are valued at the lower of weighted average cost and estimated net realizable value. Cost includes all direct costs incurred in production including direct labour and materials, freight, depreciation and amortization and directly attributable overhead costs. Net realizable value is calculated as the estimated price at the time of sale based on prevailing and future metal prices less estimated future production costs to convert the inventories into saleable form. Any write-downs of inventory to net realizable value are recorded as cost of sales. If there is a subsequent increase in the value of inventories, the previous write-downs to net realizable value are reversed to the extent that the related inventory has not Stockpiled ore inventory represents ore that has been extracted from the mine and is available for further processing. Costs added to stockpiled ore inventory are valued based on current mining cost per tonne incurred up to the point of stockpiling the ore and are removed at the weighted average cost per tonne. Stockpiled ore tonnage is verified by periodic surveys and physical counts. Work in process inventory includes precipitates, inventories in tanks and in the milling process. Finished goods inventory includes metals in their final stage of production prior to sale, including primarily doré and dried concentrates at our operations and finished goods in-transit. Materials and supplies inventories are valued at the lower of weighted average cost and net realizable value. Costs include acquisition, freight and other directly attributable costs.
Description of accounting policy for exploration and evaluation expenditures [text block]	Exploration and Evaluation Expenditures ( Note 14 ) Accounting Policy: Exploration and evaluation activity involves the search for mineral resources, the determination of technical feasibility and the assessment of commercial viability of an identified resource. Exploration and evaluation activity includes: • acquiring the rights to explore; • researching and analyzing historical exploration data; • gathering exploration data through topographical, geochemical and geophysical studies; • exploratory drilling, trenching and sampling; • determining and examining the volume and grade of the resource; • surveying transportation and infrastructure requirements; and • compiling pre-feasibility and feasibility studies. Capitalization of exploration and evaluation expenditures commences on acquisition of a beneficial interest or option in mineral rights. Capitalized costs are recorded as mining interests at cost less impairment charges, if applicable. No not The majority of the Company's exploration and evaluation expenditures focus on mineral deposits in proximity to its existing mining operations. Where the Company is acquiring a new property, the Company makes a preliminary evaluation to determine that the property has significant potential to develop an economic ore body. Exploration and evaluation expenditures are transferred to development or producing mining interests when technical feasibility and commercial viability of the mineral resource have been demonstrated. Factors taken into consideration include: • there is sufficient geological certainty of converting the mineral deposit into proven and probable reserves; • life of mine plan and economic modeling support the economic extraction of such reserves and resources; • for new properties, a scoping study and/or feasibility study demonstrates that the additional reserves and resources will generate a positive economic outcome; and • operating and environmental permits exist or are reasonably assured as obtainable. Exploration and evaluation expenditures remain as exploration mining interests and do not Accounting Estimates and Judgments: Economic recoverability and probability of future economic benefits of exploration, evaluation and development costs Management has determined that exploratory drilling, evaluation, development and related costs incurred which were capitalized have potential future economic benefits and are potentially economically recoverable, subject to impairment analysis. Management uses several criteria in its assessments of economic recoverability and probability of future economic benefit including geologic and metallurgic information, history of conversion of mineral deposits to proven and probable reserves, scoping and feasibility studies, accessible facilities, existing permits and life of mine plans.
Description of accounting policy for mining assets [text block]	Mining Interests ( Note 14 ) Accounting Policy: Exploration, development and field support costs directly related to mining interests are deferred until the property to which they directly relate is placed into production, sold, abandoned or subject to a condition of impairment. The deferred costs are amortized over the useful life of the ore body following commencement of production, or written off if the property is sold or abandoned. Administration costs and other exploration costs that do not Upon commencement of commercial production, mining interests are depleted on a units-of-production basis over the estimated economic life of the mine. In applying the units of production method, depletion is determined using quantity of material extracted from the mine in the period as a portion of total quantity of material to be extracted in current and future periods based on reserves and resources considered to be highly probable to be economically extracted over the life of mine. If no may From time to time, the Company acquires or disposes of properties pursuant to the terms of option agreements. Options are exercisable entirely at the discretion of the optionee with no Accounting Estimates and Judgments: Mineral Reserve and Resource Estimates Mineral reserve and resource estimates affect the determination of recoverable value used in impairment assessments, the depletion and depreciation rates for non-current assets using the units of production method and the expected timing of reclamation and closure expenditures. The figures for mineral reserves and mineral resources are determined in accordance with National Instrument 43 101 43 101" Accounting Estimates and Judgments: Depletion Rate for Mining Interests Depletion expenses are allocated based on estimated useful life of the asset. Should the expected asset life and associated depletion rate differ from the initial estimate, the change in estimate would be made prospectively in the consolidated statements of earnings or loss.
Description of accounting policy for stream assets [text block]	Stream Asset ( Note 14 ) Accounting Policy: A stream asset is a long-term metal purchase agreement for which settlement is called for in silver, the amount of which is based on production at a mine corresponding to the specific agreement. On acquisition of a stream asset, it is recorded at cost and is accounted for in accordance with IFRS 6, 6” 6. Once the technical feasibility, commercial viability and a development decision have been established, the value of the stream asset is reclassified and accounted for in accordance with IAS 16, 16” 6. A producing stream asset is depleted using the units-of-production method over the life of the property to which the interest relates, which is estimated using available information of proven and probable reserves and the portion of resources expected to be classified as mineral reserves at the mine corresponding to the specific agreement.
Description of accounting policy for property, plant and equipment [text block]	Property, Plant and Equipment ( Note 15 ) Accounting Policy: Property, plant and equipment are recorded at cost less accumulated depreciation and accumulated impairment losses. The cost of an item of property, plant and equipment includes the purchase price or construction cost, any costs directly attributable to bringing the asset to the location and condition necessary for its intended use, an initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located, and borrowing costs related to the acquisition or construction of qualifying assets. Property, plant and equipment are depreciated using either the straight-line or units-of-production method over the shorter of the estimated useful life of the asset or the expected life of mine. Where an item of property, plant and equipment comprises of major components with different useful lives, the components are accounted for as separate items of property, plant and equipment. Assets under construction are recorded at cost and re-allocated to machinery and equipment when it becomes available for use. Depreciation commences when the asset is in the condition and location necessary for it to operate in the manner intended by management. Depreciation charges on assets that are directly related to mineral properties are allocated to those mineral properties. The Company conducts an annual review of residual balances, useful lives and depreciation methods utilized for property, plant and equipment. Any changes in estimate that arise from this review are accounted for prospectively. Accounting Estimates and Judgments: Commencement of Commercial Production Prior to reaching commercial production levels intended by management, costs incurred are capitalized as part of the related mine or mill and proceeds from mineral sales are offset against costs capitalized. Depletion of capitalized costs for mining properties and depreciation and amortization of property, plant and equipment begin when operating levels intended by management have been reached. Determining when a mine or mill is in the condition necessary for it to be capable of operating in the manner intended by management is a matter of judgment dependent on the specific facts and circumstances. The following factors may • substantially all major capital expenditures have been completed to bring the asset to the condition necessary to operate in the manner intended by management; • the mine or mill has reached a pre-determined percentage of design capacity; • the ability to sustain a pre-determined level of design capacity for a significant period of time (i.e. the ability to process ore continuously at a steady or increasing level); • the completion of a reasonable period of testing of the mine plant and equipment; • the ability to produce a saleable product (i.e. the ability to produce concentrate within required sellable specifications); • the mine or mill has been transferred to operating personnel from internal development groups or external contractors; and • mineral recoveries are at or near the expected production levels. Accounting Estimates and Judgments: Depreciation and Amortization Rates for Property, Plant and Equipment Depreciation and amortization expenses are allocated based on estimated useful life of the asset. Should the expected asset life and associated depreciation rates differ from the initial estimate, the change in estimate would be made prospectively in the consolidated statements of earnings or loss.
Description of accounting policy for borrowing costs [text block]	Borrowing Costs Accounting Policy: Borrowing costs directly attributable to the acquisition, construction or production of a qualifying asset that takes a substantial period of time to get ready for its intended use are capitalized as part of the cost of the asset until the asset is substantially ready for its intended use. Other borrowing costs are recognized as an expense in the period incurred. As at December 31, 2020 2019, not
Description of accounting policy for leases [text block]	Right of Use Assets ( Note 16 ) and Lease Liabilities ( Note 20 ) Accounting Policy: Effective January 1, 2019, 12 The lease liability is initially measured at the present value of the lease payments that are not Lease payments included in the measurement of the lease liability comprise: • fixed lease payments (including in-substance fixed payments), less any lease incentives receivable; • variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date; • the amount expected to be payable by the lessee under residual value guarantees; • the exercise price of purchase options, if the lessee is reasonably certain to exercise the options; and • payments of penalties for terminating the lease, if the lease term reflects the exercise of an option to terminate the lease. The lease liability is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made. The Company remeasures the lease liability (and makes a corresponding adjustment to the related right-of-use asset) whenever: • the lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using a revised discount rate. • the lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which case the lease liability is remeasured by discounting the revised lease payments using an unchanged discount rate (unless the lease payments change is due to a change in a floating interest rate, in which case a revised discount rate is used). • a lease contract is modified and the lease modification is not Accounting Policy: The right-of-use assets comprise of the initial measurement of the corresponding lease liability, lease payments made at or before the commencement day, less any lease incentives received and any initial direct costs. They are subsequently measured at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the shorter period of lease term and useful life of the underlying asset. If a lease transfers ownership of the underlying asset or the cost of the right-of-use asset reflects that the Company expects to exercise a purchase option, the related right-of-use asset is depreciated over the useful life of the underlying asset. The depreciation starts at the commencement date of the lease. As a practical expedient, IFRS 16 not Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognized immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalized in accordance with the Company's general policy on borrowing costs.
Description of accounting policy for impairment of assets [text block]	Impairment of Non-Current Assets ( Note 17 ) Accounting Policy: At each statement of financial position date, the Company reviews the carrying amounts of its non-current assets to determine whether there is any indication that those assets are impaired. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment, if any. Where the asset does not If the recoverable amount of the asset or CGU is determined to be less than its carrying amount, the carrying amount of the asset or CGU is reduced to its recoverable amount and an impairment loss is recognized as an expense in the consolidated statements of earnings or loss. Recoverable amount is the higher of fair value less costs of disposal (“FVLCD”) and value in use (“VIU”). FVLCD is determined as the amount that would be obtained from the sale of the asset or CGU in an arm's length transaction between knowledgeable and willing parties. The Company considers the use of a combination of its internal discounted cash flow economic models and in-situ value of reserves, resources and exploration potential of each CGU for estimation of its FVLCD. These cash flows are discounted by an appropriate post-tax discount rate to arrive at a net present value of the asset. VIU is determined as the present value of the estimated cash flows expected to arise from the continued use of the asset or CGU in its present form and its eventual disposal. VIU is determined by applying assumptions specific to the Company's continued use and does not Accounting Estimates and Judgments: Indications of Impairment and Reversal of Impairment Management considers both external and internal sources of information in assessing whether there are any indications that the Company's property, plant and equipment and mining interests are impaired or previous impairments should be reversed. External sources of information management considers include changes in the market, economic and legal environment in which the Company operates that are not For exploration and evaluation assets, indications include but are not Fair Value Estimates In determining the recoverable amounts of the Company's property, plant and equipment and mining interests, management makes estimates of the discounted future cash flows expected to be derived from the Company's mining properties, costs of disposal of the mining properties and the appropriate discount rate. Reductions in metal price forecasts, increases in estimated future costs of production, increases in estimated future capital expenditures, reductions in the amount of recoverable reserves, resources, and exploration potential, and/or adverse current economics can result in an impairment of the carrying amounts of the Company's non-current assets. Conversely, favourable changes to the aforementioned factors can result in a reversal of previous impairments.
Description of accounting policy for share-based payment transactions [text block]	Share-based Payment Transactions ( Note 23 ) Accounting Policy: Employees (including directors and officers) of the Company may The Company adopted the 2019 three In situations where equity instruments are issued to non‐employees, the share-based payments are measured at the fair value of goods or services received. If some or all of the goods or services received by the Company as consideration cannot be specifically identified, they are measured at the fair value of the share‐based payment. Accounting Estimates and Judgments: Valuation of Share-based Payments The Company uses the Black-Scholes Option Pricing Model for valuation of share-based payments. Option pricing models require the input of subjective assumptions including expected price volatility, interest rate and forfeiture rate. Changes in the input assumptions can materially affect the fair value estimate and the Company's earnings and equity reserves.
Description of accounting policy for income tax [text block]	Taxation ( Note 22 ) Accounting Policy: Current and deferred tax are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case they are recognized in other comprehensive income or directly in equity. Current income tax is based on taxable earnings for the year. The tax rates and tax laws to compute the amount payable are those that are substantively enacted in each tax regime at the date of the statement of financial position. Deferred income tax is recognized, using the liability method, on temporary differences between the carrying value of assets and liabilities in the statement of financial position, unused tax losses, unused tax credits and the corresponding tax bases used in the computation of taxable earnings, based on tax rates and tax laws that are substantively enacted at the date of the statement of financial position and are expected to apply when the related deferred tax asset is realized or the deferred tax liability is settled. Deferred tax liabilities are recognized for taxable temporary differences associated with investments in subsidiaries, and interests in joint ventures, except where the timing of the reversal of the temporary difference is controlled by the Company and it is probable that the temporary difference will not Deferred tax assets are recognized for all deductible temporary differences to the extent that the realization of the related tax benefit through future taxable earnings is probable. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset the current tax assets against the current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Company intends to settle its current tax assets and liabilities on a net basis. Accounting Estimates and Judgments: Recognition of Deferred Income Tax Assets In assessing the probability of realizing income tax assets recognized, management makes estimates related to expectations of future taxable income, applicable tax opportunities, expected timing of reversals of existing temporary differences and the likelihood that tax positions taken will be sustained upon examination by applicable tax authorities. In making its assessments, management gives additional weight to positive and negative evidence that can be objectively verified. Estimates of future taxable income are based on forecasted cash flows from operations and the application of existing tax laws in each jurisdiction. Forecasted cash flows from operations are based on life of mine projections internally developed, reviewed by management and are consistent with the forecasts utilized for business planning and impairment testing purposes. Weight is attached to tax planning opportunities that are within the Company's control, and are feasible and implementable without significant obstacles. The likelihood that tax positions taken will be sustained upon examination by applicable tax authorities is assessed based on individual facts and circumstances of the relevant tax position evaluated in light of all available evidence. Where applicable tax laws and regulations are either unclear or subject to ongoing varying interpretations, it is reasonably possible that changes in these estimates can occur that materially affect the amounts of income tax assets recognized. At the end of each reporting period, the Company reassesses recognized and unrecognized income tax assets. Accounting Estimates and Judgments: Tax Contingencies The Company's operations involve dealing with uncertainties and judgments in the application of tax regulations in multiple jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with tax authorities in various jurisdictions and resolution of disputes arising from tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues based on its estimate of whether, and the extent to which, additional taxes will be due. The Company adjusts these liabilities in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may
Description of accounting policy for determining components of cash and cash equivalents [text block]	Cash and Cash Equivalents Accounting Policy: Cash in the statement of financial position includes cash on hand and held at banks and cash equivalents include short-term guaranteed investment certificates redeemable within three
Description of accounting policy for financial instruments [text block]	Financial Instruments Accounting Policy: Financial assets and financial liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument. On initial recognition, all financial assets and financial liabilities are recorded at fair value, net of attributable transaction costs, except for financial assets and liabilities classified as at fair value through profit or loss (“FVTPL”). The directly attributable transaction costs of financial assets and liabilities classified as at FVTPL are expensed in the period in which they are incurred. Subsequent measurement of financial assets and liabilities depends on the classifications of such assets and liabilities. Amortized cost Financial assets that meet the following conditions are measured subsequently at amortized cost: • the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows, and • the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The amortized cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortization using effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. Interest income is recognized using the effective interest method. The Company's financial assets at amortized cost primarily include cash and cash equivalents, trade and other receivables and value added taxes receivable included in other current and non-current financial assets in the Consolidated Statement of Financial Position. Fair value through other comprehensive income ("FVTOCI") Financial assets that meet the following conditions are measured at FVTOCI: • The financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and • The contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Company has designated certain investments in marketable securities that are not 13 On initial recognition, the Company may not not Accounting Policy: Financial assets measured subsequently at fair value through profit or loss ( FVTPL ) By default, all other financial assets, including derivatives, are measured subsequently at FVTPL. The Company, at initial recognition, may Financial assets measured at FVTPL are measured at fair value at the end of each reporting period, with any fair value gains or losses recognized in profit or loss to the extent they are not 24 Financial liabilities and equity Debt and equity instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all its liabilities. Equity instruments issued by the Company are recognized at the proceeds received, net of direct issue costs. Repurchase of the Company's own equity instruments is recognized and deducted directly in equity. No Financial liabilities that are not 19 20
Description of accounting policy for provisions [text block]	Provisions ( Note 21 ) Accounting Policy: Provisions are recognized when the Company has a present legal or constructive obligation as a result of a past event, it is probable that the Company will be required to settle the obligation, and a reliable estimate of the obligation can be made. The amount recognized as a provision is the present value of the expenditures expected to be required to settle the obligation using a pre-tax discount rate that reflects current market assessment of the time value of money and the risks specific to the obligation. The increase in the provision due to the passage of time is recognized as finance costs. Accounting Estimates and Judgments: Estimated Reclamation and Closure Costs The Company's provision for decommissioning liabilities represents management's best estimate of the present value of the future cash outflows required to settle estimated reclamation and closure costs at the end of the mine's life. The provision reflects estimates of future costs, inflation, movements in foreign exchange rates and assumptions of risks associated with the future cash outflows, and the applicable risk-free interest rates for discounting the future cash outflows. Changes in the above factors can result in a change to the provision recognized by the Company. Changes to reclamation and closure cost obligations are recorded with a corresponding change to the carrying amounts of related mining properties. Adjustments to the carrying amounts of related mining properties can result in a change to future depletion expense.
Description of accounting policy for earnings per share [text block]	Earnings or Loss per Share ( Note 11 ) Accounting Policy: Basic earnings or loss per share for the period is calculated by dividing the earnings or loss attributable to equity holders of the Company by the weighted average number of shares outstanding during the reporting period.
Disclosure of expected impact of initial application of new standards or interpretations [text block]	Future Changes in Accounting Policies Not December 31, 2020 Interest Rate Benchmark Reform — Phase 2 9, 39, 7, 4 16 The amendments in Interest Rate Benchmark Reform — Phase 2 9, 39, 7, 4 16 not The amendments are applied on or after the first January 1, 2021, not Property, Plant and Equipment — Proceeds before Intended Use (Amendments to IAS 16 The amendments prohibit deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognises the proceeds from selling such items, and the cost of producing those items, in profit or loss. The amendments are applied on or after the first January 1, 2022, first Classification of Liabilities as Current or Non-Current (Amendments to IAS 1 The amendments aim to promote consistency in applying the requirements by helping companies determine whether, in the statement of financial position, debt and other liabilities with an uncertain settlement date should be classified as current (due or potentially due to be settled within one The amendments are applied on or after the first January 1, 2023, not

Note 4 - Segmented Information

Note 4 - Segmented Information (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about entity reportable segments, explanatory [text block]	Year Ended December 31, 2020 and 2019 Revenue Cost of sales Depletion, depreciation, and amortization Mine operating earnings (loss) Capital expenditures Mexico San Dimas 2020 $ 211,759 $ 110,782 $ 33,738 $ 67,239 $ 43,772 2019 185,999 100,120 28,491 57,388 42,511 Santa Elena 2020 76,051 52,990 10,472 12,589 33,739 2019 94,378 53,605 12,204 28,569 23,004 La Encantada 2020 73,632 37,794 8,265 27,573 10,733 2019 50,867 36,609 11,648 2,610 13,225 Non-producing Properties 2020 183 1,362 848 (2,027 ) 4,338 2019 32,204 40,910 12,162 (20,868 ) 20,258 Others 2020 2,251 1,489 1,082 (320 ) 32,453 2019 496 902 1,079 (1,485 ) 25,196 Consolidated 2020 $ 363,876 $ 204,417 $ 54,405 $ 105,054 $ 125,035 2019 $ 363,944 $ 232,146 $ 65,584 $ 66,214 $ 124,194 Mining Interests At December 31, 2020 and 2019 Producing Exploration Property, plant and equipment Total mining assets Total assets Total liabilities Mexico San Dimas 2020 $ 204,592 $ 17,179 $ 112,105 $ 333,876 $ 439,145 $ 105,462 2019 193,433 8,699 116,556 318,688 360,387 46,504 Santa Elena 2020 52,892 33,951 49,245 136,088 166,525 33,467 2019 45,046 18,592 47,787 111,425 134,666 23,867 La Encantada 2020 25,865 2,955 16,555 45,375 99,185 29,354 2019 23,091 1,104 14,736 38,931 71,255 21,563 Non-producing Properties 2020 108,837 37,004 29,888 175,729 219,109 40,274 2019 105,778 32,938 31,050 169,766 213,061 36,261 Others 2020 — 26,456 50,427 76,883 313,553 178,724 2019 — 34,710 26,510 61,220 233,583 222,436 Consolidated 2020 $ 392,185 $ 117,545 $ 258,220 $ 767,950 $ 1,237,517 $ 387,281 2019 $ 367,348 $ 96,043 $ 236,639 $ 700,030 $ 1,012,952 $ 350,631

Note 5 - Revenues (Tables)

Note 5 - Revenues (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about revenues [text block]	Year Ended December 31, 2020 2019 Gross revenue from payable metals: Silver $ 242,338 66 % $ 215,301 58 % Gold 124,264 34 % 143,029 39 % Lead 74 — % 6,988 2 % Zinc — — % 3,517 1 % Gross revenue 366,676 100 % 368,835 100 % Less: smelting and refining costs (2,800 ) (4,891 ) Revenues $ 363,876 $ 363,944

Note 6 - Cost of Sales (Tables)

Note 6 - Cost of Sales (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about cost of sales [text block]	Year Ended December 31, 2020 2019 Consumables and materials $ 36,760 $ 45,947 Labour costs 103,075 118,229 Energy 25,075 35,135 Other costs 11,275 13,243 Production costs $ 176,185 $ 212,554 Transportation and other selling costs 2,288 2,735 Workers participation costs 14,245 9,036 Environmental duties and royalties 2,010 1,438 Inventory changes (423 ) 3,459 Cost recovery related to Republic Metals Refining Corp. bankruptcy (1) — (1,600 ) Standby Costs (2) — 2,879 Restructuring costs (3) — 1,645 Cost of Sales $ 194,305 $ 232,146 Cost of Sales - Standby Costs (4) $ 10,112 $ —

Note 7 - General and Administ_2

Note 7 - General and Administrative Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of expenses [text block]	Year Ended December 31, 2020 2019 Corporate administration $ 5,012 $ 5,202 Salaries and benefits 11,271 13,797 Audit, legal and professional fees 5,353 4,943 Filing and listing fees 499 429 Directors fees and expenses 842 793 Depreciation 1,878 1,636 $ 24,855 $ 26,800

Note 8 - Mine Holding Costs (Ta

Note 8 - Mine Holding Costs (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Mine holding costs, segment disclosure [text block]	Year Ended December 31, 2020 2019 Del Toro $ 7,999 $ — La Parrilla 5,563 5,010 San Martin 5,265 — La Guitarra 2,757 2,569 $ 21,583 $ 7,579

Note 9 - Investment and Other_2

Note 9 - Investment and Other Income (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of finance income (cost) [text block]	Year Ended December 31, 2020 2019 Gain from investment in marketable securities (Note 13 $ 1,973 $ 528 Gain from investment in silver futures derivatives 2,079 1,237 Interest income and other 1,075 6,344 $ 5,127 $ 8,109

Note 10 - Finance Costs (Tables

Note 10 - Finance Costs (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of interest expense [text block]	Year Ended December 31, 2020 2019 Debt facilities (1) $ 10,593 $ 10,885 Lease liabilities (Note 20) 1,479 1,142 Accretion of decommissioning liabilities 2,362 2,410 Silver sales and other 339 710 $ 14,773 $ 15,147

Note 11 - Earnings or Loss Pe_2

Note 11 - Earnings or Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Earnings per share [text block]	Year Ended December 31, 2020 2019 Net earnings (loss) for the year $ 23,087 $ (40,474 ) Weighted average number of shares on issue - basic 213,879,622 201,615,489 Impact of effect on dilutive securities: Stock options 1,705,689 — Restricted and performance share units 293,518 — Weighted average number of shares on issue - diluted (1) 215,878,829 201,615,489 Earnings (loss) per share - basic and diluted $ 0.11 $ (0.20 )

Note 12 - Inventories (Tables)

Note 12 - Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about inventories explanatory [text block]	December 31, 2020 December 31, 2019 Finished goods - doré $ 2,812 $ 1,965 Work-in-process 2,780 3,229 Stockpile 1,336 2,130 Silver coins and bullion 956 291 Materials and supplies 24,628 22,902 $ 32,512 $ 30,517

Note 13 - Other Financial Ass_2

Note 13 - Other Financial Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of fair value of financial instruments [text block]	December 31, 2020 December 31, 2019 FVTPL marketable securities (a) $ 13,876 $ 5,626 FVTOCI marketable securities (b) 22,444 880 Total marketable securities $ 36,319 $ 6,506 Foreign currency derivatives (Note 24 — 982 Total other financial assets $ 36,319 $ 7,488

Note 14 - Mining Interests (Tab

Note 14 - Mining Interests (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about mining interests [text block]	December 31, 2020 December 31, 2019 Depletable properties $ 392,185 $ 367,348 Non-depletable properties (exploration and evaluation costs) 117,545 96,043 $ 509,730 $ 463,391
Exploration properties [member]
Statement Line Items [Line Items]
Disclosure of detailed information about mining interests producing properties and exploration properties [text block]	Non-depletable properties San Dimas(a) Santa Elena(b) La Encantada Non-producing Properties(1) Exploration Projects(2) Springpole Stream(c) Total At December 31, 2018 $ 3,705 $ 14,316 $ 5,660 $ 24,841 $ 33,440 $ — $ 81,962 Exploration and evaluation expenditures 7,450 11,738 2,164 8,097 1,032 — 30,481 Change in decommissioning liabilities (Note 21 — — — — 238 — 238 Impairment — — (1,061 ) — — — (1,061 ) Transfer to producing properties (2,456 ) (7,462 ) (5,659 ) — — — (15,577 ) At December 31, 2019 $ 8,699 $ 18,592 $ 1,104 $ 32,938 $ 34,710 $ — $ 96,043 Exploration and evaluation expenditures 12,125 19,588 2,323 4,066 1,142 4,356 43,601 Change in decommissioning liabilities (Note 21 — — — — 59 — 59 Sale of exploration project — — — — (13,812 ) — (13,812 ) Transfer to producing properties (3,645 ) (4,229 ) (472 ) — — — (8,346 ) At December 31, 2020 $ 17,179 $ 33,951 $ 2,955 $ 37,004 $ 22,099 $ 4,356 $ 117,545
Producing properties [member]
Statement Line Items [Line Items]
Disclosure of detailed information about mining interests producing properties and exploration properties [text block]	Depletable properties San Dimas Santa Elena La Encantada Non-producing Properties (1) Total Cost At December 31, 2018 $ 193,305 $ 45,041 $ 99,436 $ 478,883 $ 816,665 Additions 24,596 6,813 5,995 9,088 46,492 Change in decommissioning liabilities (Note 21 301 2,338 500 6,161 9,300 Transfer from exploration properties 2,456 7,462 5,659 — 15,577 At December 31, 2019 $ 220,658 $ 61,654 $ 111,590 $ 494,132 $ 888,034 Additions 21,263 6,218 4,201 — 31,682 Change in decommissioning liabilities (Note 21 4,527 1,191 2,049 3,059 10,826 Transfer from exploration properties 3,645 4,229 472 — 8,346 At December 31, 2020 $ 250,093 $ 73,292 $ 118,312 $ 497,191 $ 938,888 Accumulated depletion, amortization and impairment At December 31, 2018 $ (10,871 ) $ (11,594 ) $ (59,872 ) $ (380,677 ) $ (463,014 ) Depletion and amortization (16,354 ) (5,014 ) (6,025 ) (7,677 ) (35,070 ) Impairment — — (22,602 ) — (22,602 ) At December 31, 2019 $ (27,225 ) $ (16,608 ) $ (88,499 ) $ (388,354 ) $ (520,686 ) Depletion and amortization (18,277 ) (3,792 ) (3,948 ) — (26,017 ) At December 31, 2020 $ (45,502 ) $ (20,400 ) $ (92,447 ) $ (388,354 ) $ (546,703 ) Carrying values At December 31, 2019 $ 193,433 $ 45,046 $ 23,091 $ 105,778 $ 367,348 At December 31, 2020 $ 204,592 $ 52,892 $ 25,865 $ 108,837 $ 392,185

Note 15 - Property, Plant and_2

Note 15 - Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about property, plant and equipment [text block]	Land and Buildings (1) Machinery and Equipment Assets under Construction (2) Other Total Cost At December 31, 2018 $ 177,864 $ 430,862 $ 35,673 $ 23,410 $ 667,809 Additions — 1,991 44,709 521 47,221 Transfers and disposals 20,548 23,802 (52,737 ) 507 (7,880 ) At December 31, 2019 $ 198,412 $ 456,655 $ 27,645 $ 24,438 $ 707,150 Additions — 2,096 47,266 391 49,753 Transfers and disposals 917 9,873 (19,242 ) 3,822 (4,630 ) At December 31, 2020 $ 199,329 $ 468,624 $ 55,669 $ 28,651 $ 752,273 Accumulated depreciation, amortization and impairment At December 31, 2018 $ (111,258 ) $ (291,959 ) $ — $ (13,508 ) $ (416,725 ) Depreciation and amortization (4,980 ) (23,829 ) — (2,122 ) (30,931 ) Transfers and disposals 271 5,189 — 459 5,919 Impairment (13,073 ) (15,701 ) — — (28,774 ) At December 31, 2019 $ (129,040 ) $ (326,300 ) $ — $ (15,171 ) $ (470,511 ) Depreciation and amortization (4,188 ) (19,833 ) — (2,555 ) (26,576 ) Transfers and disposals 72 2,754 — 208 3,034 At December 31, 2020 $ (133,156 ) $ (343,379 ) $ — $ (17,518 ) $ (494,053 ) Carrying values At December 31, 2019 $ 69,372 $ 130,355 $ 27,645 $ 9,267 $ 236,639 At December 31, 2020 $ 66,173 $ 125,245 $ 55,669 $ 11,133 $ 258,220
Disclosure of detailed information about property plant and equipment allocated by mine explanatory [text block]	San Dimas Santa Elena La Encantada Non-producing Properties(1) Other Total Cost At December 31, 2018 $ 127,763 $ 76,671 $ 132,146 $ 299,037 $ 32,192 $ 667,809 Additions 10,465 4,453 5,066 3,073 24,164 47,221 Transfers and disposals (1,925 ) 9,638 90 (4,870 ) (10,813 ) (7,880 ) At December 31, 2019 $ 136,303 $ 90,762 $ 137,302 $ 297,240 $ 45,543 $ 707,150 Additions(2) 10,384 7,933 4,209 272 26,955 49,753 Transfers and disposals 41 (1,364 ) 1,999 (3,751 ) (1,555 ) (4,630 ) At December 31, 2020 $ 146,728 $ 97,331 $ 143,510 $ 293,761 $ 70,943 $ 752,273 Accumulated depreciation, amortization and impairment At December 31, 2018 $ (7,545 ) $ (37,007 ) $ (89,086 ) $ (265,811 ) $ (17,276 ) $ (416,725 ) Depreciation and amortization (12,355 ) (6,989 ) (5,278 ) (4,378 ) (1,931 ) (30,931 ) Transfers and disposals 153 1,021 572 3,999 174 5,919 Impairment — — (28,774 ) — — (28,774 ) At December 31, 2019 $ (19,747 ) $ (42,975 ) $ (122,566 ) $ (266,190 ) $ (19,033 ) $ (470,511 ) Depreciation and amortization (15,032 ) (6,451 ) (2,646 ) (592 ) (1,855 ) (26,576 ) Transfers and disposals 156 1,340 (1,743 ) 2,909 372 3,034 At December 31, 2020 $ (34,623 ) $ (48,086 ) $ (126,955 ) $ (263,873 ) $ (20,516 ) $ (494,053 ) Carrying values At December 31, 2019 $ 116,556 $ 47,787 $ 14,736 $ 31,050 $ 26,510 $ 236,639 At December 31, 2020 $ 112,105 $ 49,245 $ 16,555 $ 29,888 $ 50,427 $ 258,220

Note 16 - Right-of-use Assets (

Note 16 - Right-of-use Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of quantitative information about right-of-use assets [text block]	Land and Buildings Machinery and Equipment Other Total At December 31, 2018 $ — $ — $ — $ — Initial adoption 2,624 1,036 22 3,682 Additions 571 14,132 — 14,703 Remeasurements 1,686 232 — 1,918 Depreciation and amortization (674 ) (1,286 ) (7 ) (1,967 ) Impairment — (6,302 ) — (6,302 ) At December 31, 2019 $ 4,207 $ 7,812 $ 15 $ 12,034 Additions 1,939 554 — 2,494 Remeasurements 2,789 (10 ) — 2,779 Depreciation and amortization (848 ) (2,106 ) (7 ) (2,961 ) Disposals — (16 ) — (16 ) At December 31, 2020 $ 8,087 $ 6,234 $ 8 $ 14,330

Note 17 - Impairment of Non-c_2

Note 17 - Impairment of Non-current Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of impairment loss and reversal of impairment loss [text block]	Year Ended December 31, 2019 Impairment of non-current assets $ 58,739 Deferred income tax recovery (6,300 ) Impairment of non-current assets, net of tax $ 52,439
Disclosure of impairment loss in respect of each operating segment or project explanatory [text block]	Mining interests Producing Exploration Right of use assets Property, plant and equipment Total La Encantada Silver Mine $ 22,602 $ 1,061 $ 6,302 $ 28,774 $ 58,739
Explanation of inputs, assumptions and estimation techniques used to apply impairment requirements [text block]	December 31, 2019 2020-2023 Commodity Prices Average Long-term Silver (per ounce) $ 18.84 $ 19.50 Gold (per ounce) $ 1,536 $ 1,416

Note 18 - Trade and Other Pay_2

Note 18 - Trade and Other Payables (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of other current liabilities [text block]	December 31, 2020 December 31, 2019 Trade payables $ 31,262 $ 23,984 Trade related accruals 18,635 12,314 Payroll and related benefits 21,427 19,059 Environmental duty 2,156 1,483 Other accrued liabilities 2,522 2,283 $ 76,002 $ 59,123

Note 19 - Debt Facilities (Tabl

Note 19 - Debt Facilities (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about debt activity explanatory [text block]	Convertible Debentures (a) Revolving Credit Facility (b) Total Balance at December 31, 2018 $ 130,807 $ 18,705 $ 149,512 Finance costs Interest expense 2,975 1,498 4,473 Accretion 5,758 654 6,412 Payments of finance costs (2,933 ) (1,646 ) (4,579 ) Balance at December 31, 2019 $ 136,607 $ 19,211 $ 155,818 Finance costs Interest expense 2,984 763 3,747 Accretion 6,168 678 6,846 Proceeds from drawdown of Revolving Credit Facility — 10,000 10,000 Repayments of principal — (19,969 ) (19,969 ) Payments of finance costs (2,934 ) (801 ) (3,735 ) At December 31, 2020 $ 142,825 $ 9,882 $ 152,707 Statements of Financial Position Presentation Current portion of debt facilities $ 1,043 $ 132 $ 1,175 Non-current portion of debt facilities 135,564 19,079 154,643 Balance at December 31, 2019 $ 136,607 $ 19,211 $ 155,818 Current portion of debt facilities $ 1,092 $ 9,882 $ 10,975 Non-current portion of debt facilities 141,733 — 141,733 At December 31, 2020 $ 142,825 $ 9,882 $ 152,707

Note 20 - Lease Liabilities (Ta

Note 20 - Lease Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of movement in lease liabilities [text block]	Finance Leases (a) Operating Leases (b) Equipment Financing (c) Total Balance at December 31, 2018 $ 409 $ — $ 5,438 $ 5,847 Initial adoption of IFRS 16 — 3,682 — 3,682 Additions — 14,706 — 14,706 Remeasurements — 1,918 — 1,918 Finance costs 18 789 335 1,142 Repayments of principal (359 ) (2,395 ) (2,459 ) (5,213 ) Payments of finance costs (18 ) — (379 ) (397 ) Foreign exchange loss — 251 — 251 Balance at December 31, 2019 $ 50 $ 18,951 $ 2,935 $ 21,936 Additions — 2,494 — 2,494 Remeasurements — 2,779 — 2,779 Finance costs — 1,396 83 1,479 Repayments of principal (50 ) (5,353 ) (2,303 ) (7,706 ) Payments of finance costs — — (126 ) (126 ) Foreign exchange gain — (281 ) — (281 ) At December 31, 2020 $ — $ 19,986 $ 589 $ 20,575 Statements of Financial Position Presentation Current portion of lease liabilities $ 50 $ 4,518 $ 2,352 $ 6,920 Non-current portion of lease liabilities — 14,433 583 15,016 Balance at December 31, 2019 $ 50 $ 18,951 $ 2,935 $ 21,936 Current portion of lease liabilities $ — $ 4,820 $ 538 $ 5,358 Non-current portion of lease liabilities — 15,166 51 15,217 At December 31, 2020 $ — $ 19,986 $ 589 $ 20,575
Disclosure of lease payments [text block]	Year Ended December 31, 2020 Year Ended December 31, 2019 Expenses relating to variable lease payments not included in the measurement of lease liability $ 25,560 $ 14,241 Expenses relating to short-term leases 19,607 42,994 Expenses relating to low value leases 81 — $ 45,248 $ 57,235

Note 21 - Decommissioning Lia_2

Note 21 - Decommissioning Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about decommissioning liability explanatory [text block]	San Dimas Santa Elena La Encantada San Martin La Parrilla Del Toro La Guitarra La Luz Total Balance at December 31, 2018 $ 8,412 $ 2,321 $ 6,709 $ 2,694 $ 3,245 $ 2,498 $ 1,615 $ 302 $ 27,796 Movements during the year: Change in rehabilitation provision 301 2,338 500 4,051 696 945 469 238 9,538 Reclamation costs incurred — — — — — — (104 ) — (104 ) Interest or accretion expense 744 207 592 237 282 219 129 — 2,410 Foreign exchange loss (15 ) 105 311 121 114 107 69 76 888 Balance at December 31, 2019 $ 9,442 $ 4,971 $ 8,112 $ 7,103 $ 4,337 $ 3,769 $ 2,178 $ 616 $ 40,528 Movements during the year: Disposition of exploration project — — — — — — (153 ) — (153 ) Change in rehabilitation provision 4,527 1,191 2,049 1,240 830 772 217 59 10,885 Reclamation costs incurred — (55 ) — (81 ) (20 ) — — — (156 ) Interest or accretion expense 565 295 477 418 259 226 122 — 2,362 Foreign exchange loss (476 ) (252 ) (415 ) (359 ) (216 ) (190 ) (86 ) (2 ) (1,995 ) Balance at December 31, 2020 $ 14,059 $ 6,150 $ 10,223 $ 8,321 $ 5,190 $ 4,577 $ 2,278 $ 673 $ 51,471

Note 22 - Income Taxes (Tables)

Note 22 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about effective income tax expense recovery explanatory [text block]	Year Ended December 31, 2020 2019 Earnings (loss) before tax $ 29,729 $ (39,024 ) Combined statutory tax rate 27.00 % 27.00 % Income tax expense (recovery) computed at statutory tax rate 8,027 (10,536 ) Reconciling items: Effect of different foreign statutory tax rates on earnings of subsidiaries (4,760 ) (24,320 ) Impact of foreign exchange on deferred income tax assets and liabilities 15,688 (10,194 ) Change in unrecognized deferred income tax asset (4,596 ) 30,399 7.5% mining royalty in Mexico 7,415 (814 ) Other non-deductible expenses 758 3,256 Impact of inflationary adjustments (1,317 ) (2,412 ) Change in tax provision estimates 10,387 23,987 Impact of divestitures and restructurings (16,724 ) — Other (8,236 ) (7,916 ) Income tax expense $ 6,642 $ 1,450 Statements of Earnings (Loss) Presentation Current income tax expense $ 9,966 $ 16,423 Deferred income tax recovery (3,324 ) (14,973 ) Income tax expense $ 6,642 $ 1,450 Effective tax rate 22 % (4 %)
Disclosure of tax receivables and payables [text block]	Year Ended December 31, 2020 2019 Current income tax receivable $ — $ — Non-current income tax receivable — 4,579 $ — $ 4,579 Current income tax payable $ 6,574 $ 149 Non-current income tax payable 23,099 — $ 29,673 $ 149
Disclosure of deferred taxes [text block]	Deferred tax assets Losses Provisions Deferred tax asset not recognized Other Total At December 31, 2018 $ 118,393 $ 16,508 $ (68,348 ) $ 3,556 $ 70,109 Benefit (expense) to income statement 8,079 6,379 (32,156 ) 4,295 (13,403 ) Charged to equity — — — 994 994 At December 31, 2019 $ 126,472 $ 22,887 $ (100,504 ) $ 8,845 $ 57,700 Benefit to income statement 21,327 2,389 11,788 456 35,960 At December 31, 2020 $ 147,799 $ 25,276 $ (88,716 ) $ 9,301 $ 93,660 Deferred tax liabilities Property, plant and equipment and mining interests Effect of Mexican tax deconsolidation Other Total At December 31, 2018 $ 65,382 $ 6,744 $ 37,688 $ 109,814 (Benefit) expense to income statement (32,381 ) 498 (4,643 ) (36,526 ) Reclassed to current income taxes payable — (2,813 ) — (2,813 ) At December 31, 2019 $ 33,001 $ 4,429 $ 33,045 $ 70,475 (Benefit) expense to income statement 23,883 (113 ) (18,311 ) 5,459 Reclassed to current income taxes payable — (2,245 ) — (2,245 ) Charged to OCI — — 1,633 1,633 Divestiture of exploration projects — — (2,577 ) (2,577 ) At December 31, 2020 $ 56,884 $ 2,071 $ 13,790 $ 72,745 Statements of Financial Position Presentation Deferred tax assets $ 51,141 Deferred tax liabilities 63,916 At December 31, 2019 $ 12,775 Deferred tax assets $ 69,644 Deferred tax liabilities 48,729 At December 31, 2020 $ (20,915 )
Disclosure of detailed information about deferred tax assets expiration explanatory [text block]	Year of expiry Canadian non-capital losses Mexican non-capital losses December 31, 2020 December 31, 2019 2020 $ — $ — $ — 544 2021 — 3,835 3,835 7,825 2022 — 3,878 3,878 4,060 2023 — 2,071 2,071 2,213 2024 — 34,964 34,964 39,319 2025 — 38,901 38,901 51,911 2026 — 104,044 104,044 113,630 2027 — 21,040 21,040 56,760 2028 — 57,809 57,809 99,315 2029 — 68,074 68,074 89,754 2030 and after 3,141 149,721 152,862 22,209 Total $ 3,141 $ 484,337 $ 487,478 $ 487,540 Unrecognized losses $ — $ 199,775 $ 199,775 $ 208,253

Note 23 - Share Capital (Tables

Note 23 - Share Capital (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of movement in issued and outstanding capital [text block]	Year Ended December 31, 2020 Year Ended December 31, 2019 Number of Shares Net Proceeds Number of Shares Net Proceeds ATM program (1) 5,654,338 $ 67,892 11,172,982 $ 81,916 Prospectus offering (2) 5,000,000 58,240 — — 10,654,338 $ 126,132 11,172,982 $ 81,916
Disclosure of range of exercise prices of outstanding share options [text block]	Options Outstanding Options Exercisable Exercise prices (CAD$) Number of Options Weighted Average Exercise Price (CAD $/Share) Weighted Average Remaining Life (Years) Number of Options Weighted Average Exercise Price (CAD $/Share) Weighted Average Remaining Life (Years) 4.80 - 10.00 2,821,206 8.60 7.70 1,323,015 8.67 7.07 10.01 - 15.00 3,276,063 12.23 4.96 1,833,567 11.12 1.46 15.01 - 20.00 831,928 15.95 7.59 117,232 16.04 1.14 20.01 - 126.01 144,895 53.85 0.68 144,895 53.85 0.68 7,074,092 12.07 6.27 3,418,709 12.15 3.59
Disclosure of number and weighted average exercise prices of share options [text block]	Year Ended Year Ended December 31, 2020 December 31, 2019 Number of Options Weighted Average Exercise Price (CAD $/Share) Number of Options Weighted Average Exercise Price (CAD $/Share) Balance, beginning of the year 7,583,439 10.70 9,266,098 10.76 Granted 2,621,924 13.46 2,601,680 8.83 Exercised (2,473,926 ) 7.50 (2,918,518 ) 7.54 Cancelled or expired (657,345 ) 18.96 (1,365,821 ) 14.31 Balance, end of the year 7,074,092 12.07 7,583,439 10.70
Disclosure of detailed information about options valuation assumptions explanatory [text block]	Year Ended Year Ended Assumption Based on December 31, 2020 December 31, 2019 Risk-free interest rate (%) Yield curves on Canadian government zero- coupon bonds with a remaining term equal to the stock options' expected life 1.03 2.01 Expected life (years) Average of the expected vesting term and expiry term of the option 5.83 5.80 Expected volatility (%) Historical and implied volatility of the precious metals mining sector 49.00 51.29 Expected dividend yield (%) Annualized dividend rate as of the date of grant — —
Disclosure of number and weighted average exercise prices of other equity instruments [text block]	Year Ended December 31, 2020 Year Ended December 31, 2019 Number of shares Weighted Average Fair Value (CAD$) Number of shares Weighted Average Fair Value (CAD$) Outstanding, beginning of the year 128,944 10.36 — — Granted 211,192 15.72 274,520 9.67 Settled (127,000 ) 10.32 (145,576 ) 9.06 Forfeited (28,653 ) 15.93 — — Outstanding, end of the year 184,483 15.66 128,944 10.36 Year Ended December 31, 2020 Number of shares Weighted Average Fair Value (CAD$) Outstanding, beginning of the year — — Granted 122,575 15.65 Forfeited (13,540 ) (15.93 ) Outstanding, end of the year 109,035 19.57

Note 24 - Financial Instrumen_2

Note 24 - Financial Instruments and Related Risk Management (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about financial instruments [text block]	December 31, 2020 December 31, 2019 Fair value measurement Fair value measurement Carrying value Level 1 Level 2 Carrying value Level 1 Level 2 Financial assets Trade receivables $ — $ — $ — $ 1,182 $ — $ 1,182 Marketable securities (Note 13 36,319 30,996 5,323 6,506 6,506 — Foreign currency derivatives (Note 13) — — — 982 982 —
Disclosure of detailed information about capital risk management explanatory [text block]	December 31, 2020 December 31, 2019 Equity $ 850,236 $ 662,321 Debt facilities 152,708 155,818 Lease liabilities 20,575 21,936 Less: cash and cash equivalents (238,578 ) (169,009 ) $ 784,941 $ 671,066
Disclosure of financial liabilities [text block]	Carrying Amount Contractual Cash Flows Less than 1 year 2 to 3 years 4 to 5 years After 5 years Trade and other payables $ 76,002 $ 76,002 $ 76,002 $ — $ — $ — Debt facilities 152,708 174,082 13,180 160,902 — — Lease liabilities 20,575 16,520 4,557 6,562 4,692 709 Other liabilities 5,406 5,406 — — — 5,406 $ 254,691 $ 272,010 $ 93,739 $ 167,464 $ 4,692 $ 6,115
Disclosure of detailed information about currency risk explanatory [text block]	December 31, 2020 Cash and cash equivalents Trade and other receivables Value added taxes receivable Other financial assets Trade and other payables Net assets (liabilities) exposure Effect of +/- 10% change in currency Canadian dollar $ 75,958 $ 74 $ — $ 10,140 $ (3,133 ) $ 83,039 $ 8,304 Mexican peso 8,369 — 53,201 — (42,763 ) 18,807 1,881 $ 84,327 $ 74 $ 53,201 $ 10,140 $ (45,896 ) $ 101,846 $ 10,185
Disclosure of detailed information about price risk explanatory [text block]	December 31, 2020 Effect of +/- 10% change in metal prices Silver Gold Total Metals in doré inventory $ 104 $ 226 $ 330 $ 104 $ 226 $ 330

Note 25 - Supplemental Cash F_2

Note 25 - Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of detailed information about supplemental cash flow [text block]	Year Ended December 31, 2020 2019 Other adjustments to investing activities: Purchase of marketable securities $ (1,522 ) $ — Proceeds from disposal of marketable securities 664 867 Cash received on settlement of derivatives 2,079 2,555 $ 1,221 $ 3,422 Net change in non-cash working capital items: Decrease in trade and other receivables $ 24 $ 1,304 (Increase) decrease in value added taxes receivable (27,525 ) 30,028 (Increase) decrease in inventories (4,288 ) 2,829 (Increase) decrease in prepaid expenses and other (692 ) 776 Decrease in income taxes payable (1,115 ) (6,569 ) Increase in trade and other payables 10,765 8,959 $ (22,831 ) $ 37,327 Non-cash investing and financing activities: Transfer of share-based payments reserve upon settlement of RSUs $ 992 $ 988 Transfer of share-based payments reserve upon exercise of options 5,903 5,986 Acquisition of mining interests (8,179 ) —

Note 27 - Subsidiaries (Tables)

Note 27 - Subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of subsidiaries [text block]	Name of subsidiary Operations and Projects Location 2020 % Ownership 2019 % Ownership First Majestic Silver Corp. Parent company and bullion sales Canada 100 % 100 % Corporación First Majestic, S.A. de C.V. Holding company Mexico 100 % 100 % Primero Empresa Minera, S.A de C.V. San Dimas Silver/Gold Mine Mexico 100 % 100 % Nusantara de Mexico, S.A. de C.V. Santa Elena Silver/Gold Mine Mexico 100 % 100 % Minera La Encantada, S.A. de C.V. La Encantada Silver Mine Mexico 100 % 100 % First Majestic Plata, S.A. de C.V. La Parrilla Silver Mine Mexico 100 % 100 % Minera El Pilón, S.A. de C.V. San Martin Silver Mine Mexico 100 % 100 % First Majestic Del Toro, S.A. de C.V. Del Toro Silver Mine Mexico 100 % 100 % La Guitarra Compañia Minera, S.A. de C.V. La Guitarra Silver Mine Mexico 100 % 100 % Majestic Services, S.A. de C.V. Service company Mexico 100 % 100 % FM Metal Trading (Barbados) Ltd. Metals trading company Barbados 100 % 100 % FMS Trading AG Metals trading company Switzerland 100 % 100 %

Note 28 - Key Management Comp_2

Note 28 - Key Management Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Statement Line Items [Line Items]
Disclosure of information about key management personnel [text block]	Year Ended December 31, 2020 2019 Salaries, bonuses, fees and benefits Independent members of the Board of Directors $ 803 $ 790 Other members of key management 3,937 4,267 Share-based payments Independent members of the Board of Directors 402 439 Other members of key management 2,646 2,975 $ 7,788 $ 8,471

Note 3 - Significant Accounti_2

Note 3 - Significant Accounting Policies, Estimates and Judgments (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Goodwill at end of period	$ 0	$ 0

Note 4 - Segmented Informatio_2

Note 4 - Segmented Information (Details Textual)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Number of operating mines	3
Number of customers	3	6
Percentage of entity's revenue	100.00%	100.00%
Three Customers [member]
Statement Line Items [Line Items]
Percentage of entity's revenue	99.00%
Major meta broker [member]
Statement Line Items [Line Items]
Number of customers	1	1
Percentage of entity's revenue	92.00%	85.00%
Six Customers [Member]
Statement Line Items [Line Items]
Percentage of entity's revenue		99.00%

Note 4 - Segmented Informatio_3

Note 4 - Segmented Information - Disclosure of Detailed Information About Entity Reportable Segments (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Line Items [Line Items]
Revenue		$ 363,876	$ 363,944
Costs of sales		204,417	232,146
Depletion, depreciation, and amortization		54,405	65,584
Mine operating earnings		105,054	66,214
Capital expenditures		125,035	124,194
Mining Interests Producing		509,730	463,391
Property, plant and equipment		258,220	236,639
Total mining assets		767,950	700,030
Total assets		1,237,517	1,012,952
Total liabilities		387,281	350,631
Total mining assets		767,950	700,030
Producing properties [member]
Statement Line Items [Line Items]
Mining Interests Producing		392,185	367,348
Exploration properties [member]
Statement Line Items [Line Items]
Mining Interests Producing		117,545	96,043
Mexico - San Dimas [member]
Statement Line Items [Line Items]
Revenue		211,759	185,999
Costs of sales		110,782	100,120
Depletion, depreciation, and amortization		33,738	28,491
Mine operating earnings		67,239	57,388
Capital expenditures		43,772	42,511
Property, plant and equipment		112,105	116,556	$ 116,556
Total mining assets		333,876	318,688
Total assets		439,145	360,387
Total liabilities		105,462	46,504
Total mining assets		333,876	318,688
Mexico - San Dimas [member] | Producing properties [member]
Statement Line Items [Line Items]
Mining Interests Producing		204,592	193,433
Mexico - San Dimas [member] | Exploration properties [member]
Statement Line Items [Line Items]
Mining Interests Producing	[1]	17,179	8,699	3,705
Mexico - Santa Elena [member]
Statement Line Items [Line Items]
Revenue		76,051	94,378
Costs of sales		52,990	53,605
Depletion, depreciation, and amortization		10,472	12,204
Mine operating earnings		12,589	28,569
Capital expenditures		33,739	23,004
Property, plant and equipment		49,245	47,787	47,787
Total mining assets		136,088	111,425
Total assets		166,525	134,666
Total liabilities		33,467	23,867
Total mining assets		136,088	111,425
Mexico - Santa Elena [member] | Producing properties [member]
Statement Line Items [Line Items]
Mining Interests Producing		52,892	45,046
Mexico - Santa Elena [member] | Exploration properties [member]
Statement Line Items [Line Items]
Mining Interests Producing	[2]	33,951	18,592	14,316
Mexico - La Encantada [member]
Statement Line Items [Line Items]
Revenue		73,632	50,867
Costs of sales		37,794	36,609
Depletion, depreciation, and amortization		8,265	11,648
Mine operating earnings		27,573	2,610
Capital expenditures		10,733	13,225
Property, plant and equipment		16,555	14,736	14,736
Total mining assets		45,375	38,931
Total assets		99,185	71,255
Total liabilities		29,354	21,563
Total mining assets		45,375	38,931
Mexico - La Encantada [member] | Producing properties [member]
Statement Line Items [Line Items]
Mining Interests Producing		25,865	23,091
Mexico - La Encantada [member] | Exploration properties [member]
Statement Line Items [Line Items]
Mining Interests Producing		2,955	1,104	$ 5,660
Mexico - non-producing properties [member]
Statement Line Items [Line Items]
Revenue		183	32,204
Costs of sales		1,362	40,910
Depletion, depreciation, and amortization		848	12,162
Mine operating earnings		(2,027)	(20,868)
Capital expenditures		4,338	20,258
Property, plant and equipment		29,888	31,050
Total mining assets		175,729	169,766
Total assets		219,109	213,061
Total liabilities		40,274	36,261
Total mining assets		175,729	169,766
Mexico - non-producing properties [member] | Producing properties [member]
Statement Line Items [Line Items]
Mining Interests Producing		108,837	105,778
Mexico - non-producing properties [member] | Exploration properties [member]
Statement Line Items [Line Items]
Mining Interests Producing		37,004	32,938
All other segments and La Guitarra [Member]
Statement Line Items [Line Items]
Revenue		2,251	496
Costs of sales		1,489	902
Depletion, depreciation, and amortization		1,082	1,079
Mine operating earnings		(320)	(1,485)
Capital expenditures		32,453	25,196
Property, plant and equipment		50,427	26,510
Total mining assets		76,883	61,220
Total assets		313,553	233,583
Total liabilities		178,724	222,436
Total mining assets		76,883	61,220
All other segments and La Guitarra [Member] | Producing properties [member]
Statement Line Items [Line Items]
Mining Interests Producing
All other segments and La Guitarra [Member] | Exploration properties [member]
Statement Line Items [Line Items]
Mining Interests Producing		$ 26,456	$ 34,710
[1]	San Dimas Silver/Gold Mine, Durango State In 2018, the San Dimas Mine is subject to a gold and silver streaming agreement with WPMI which entitles WPM to receive 25% of the gold equivalent production (based on a fixed exchange ratio of 70 silver ounces to 1 gold ounce) at San Dimas in exchange for ongoing payments equal to the lesser of $600 (subject to a 1% annual inflation adjustment commencing in May 2019) and the prevailing market price, for each gold ounce delivered. Should the average gold to silver ratio over a six month period exceed 90:1 or fall below 50:1, the fixed exchange ratio would be increased to 90:1 or decreased to 50:1, respectively. The fixed gold to silver exchange ratio was revised to 90:1 on April 1, 2020 and reverted to 70:1 on October 14, 2020 after the average gold to silver price ratio over a six month period fell back below 90:1.
[2]	Santa Elena Silver/Gold Mine, Sonora State The Santa Elena Mine is subject to a gold streaming agreement with Sandstorm, which requires the mine to sell 20% of its life of mine gold production from its leach pad and a designated area of its underground operations to Sandstorm. The selling price to Sandstorm is currently the lesser of $464 per ounce, subject to a 1% annual inflation increase every April, and the prevailing market price.

Note 5 - Revenues (Details Text

Note 5 - Revenues (Details Textual)	1 Months Ended	12 Months Ended
	Apr. 30, 2018	Dec. 31, 2020USD ($)oz	Dec. 31, 2019USD ($)oz
Statement Line Items [Line Items]
Deferred income		$ 2,717,000	$ 4,486,000
Per-ounce price of gold delivered during the period		$ 610	$ 604
Sandstorm Gold Ltd. [member] | Mexico - Santa Elena [member]
Statement Line Items [Line Items]
Percent of gold production required to be sold		20.00%
Gold, selling price, per ounce		$ 450
Purchase agreement, annual inflation increase, percent	1.00%
Gold sold during period (Ounce) | oz		5,697	9,164
Gold sold during period, average price		$ 463	$ 458
Sandstorm Gold Ltd. [member] | Mexico - Santa Elena [member] | Annual inflation [member]
Statement Line Items [Line Items]
Purchase agreement, annual inflation increase, percent		1.00%
Wheaton Precious Metals International Ltd. [member]
Statement Line Items [Line Items]
New stream agreement, percentage of gold equivalent production, counter party		25.00%
New stream agreement, ongoing payments, upper range limit		$ 600
New stream agreement, percentage of annual inflation adjustment		1.00%
Ounces of gold delivered during period		38,604	44,667

Note 5 - Revenues - Disclosure

Note 5 - Revenues - Disclosure of Detailed Information About Revenues (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Percentage of revenue	100.00%	100.00%
Gross revenue	$ 366,676	$ 368,835
Less: smelting and refining costs	(2,800)	(4,891)
Revenues	363,876	363,944
Silver [member]
Statement Line Items [Line Items]
Silver	$ 242,338	$ 215,301
Percentage of revenue	66.00%	58.00%
Gold [member]
Statement Line Items [Line Items]
Percentage of revenue	34.00%	39.00%
Gold	$ 124,264	$ 143,029
Lead [member]
Statement Line Items [Line Items]
Percentage of revenue		2.00%
Lead	$ 74	$ 6,988
Zinc [member]
Statement Line Items [Line Items]
Percentage of revenue		1.00%
Zinc		$ 3,517

Note 6 - Cost of Sales (Details

Note 6 - Cost of Sales (Details Textual) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Sep. 30, 2019	Nov. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	[1]	Jun. 30, 2020
Statement Line Items [Line Items]
Inventory write-down		$ 7,500
Partial litigation settlement	$ 1,600
Cost of sales, standby costs			$ 10,112
Stand by costs related to union work stoppage						$ 2,000
San Dimas [member]
Statement Line Items [Line Items]
Cost of sales, standby costs			3,500
Santa Elena [member]
Statement Line Items [Line Items]
Cost of sales, standby costs			2,000
La Encantade [member]
Statement Line Items [Line Items]
Cost of sales, standby costs			$ 1,700
[1]	Cost of sales for the year ended December 31, 2020 included standby costs of $10.1 million, primarily related to direct costs incurred at the San Dimas ($3.5 million), Santa Elena ($2.0 million)and La Encantada ($1.7 million) mines due to temporary suspensions following Mexico's Ministry of Health's Federal Decree requiring all non-essential businesses, including mining, to temporarily suspend activities throughout most of April and May in response to the global pandemic. In addition, the Company incurred $2.0 million in standby costs related to the 13-day union work stoppage at San Dimas in June 2020.

Note 6 - Cost of Sales - Disclo

Note 6 - Cost of Sales - Disclosure of Detailed Information About Cost of Sales (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Consumables and materials		$ 36,760	$ 45,947
Labour costs		103,075	118,229
Energy		25,075	35,135
Other costs		11,275	13,243
Production costs		176,185	212,554
Transportation and other selling costs		2,288	2,735
Workers participation costs		14,245	9,036
Environmental duties and royalties		2,010	1,438
Inventory changes		(423)	3,459
Cost recovery related to Republic Metals Refining Corp. bankruptcy(1)	[1]		(1,600)
Standby Costs(2)	[2]		2,879
Restructuring costs(3)	[3]		1,645
Cost of Sales		194,305	232,146
Cost of Sales - Standby Costs(4)		$ 10,112		[4]
[1]	In November 2018, one of the refineries used by the Company, Republic Metals Refining Corp. ("Republic"), announced it filed for bankruptcy. As a result, the Company wrote off $7.5 million in inventory that was in Republic's possession for refining. In September 2019, the Company reached a partial litigation settlement for $1.6 million. The Company continues to pursue legal channels to recover the remaining balance of inventory, but there is no assurance that this inventory is recoverable.
[2]	Effective from July 2019, the Company temporarily suspended all mining and processing activities at the San Martin operation due to a growing insecurity in the area and safety concerns for its workforce. The Company is working with authorities to secure the area and is uncertain of a restart date. From January 1, 2020, such costs were classified as mine holding costs (Note 8 ) due to continued uncertainty with respect to the timing of restart at San Martin.
[3]	Effective September 2019, the Company temporarily suspended milling operations at the La Parrilla mine. Restructuring costs include severance and plant closure costs incurred for re-organizing the operation.
[4]	Cost of sales for the year ended December 31, 2020 included standby costs of $10.1 million, primarily related to direct costs incurred at the San Dimas ($3.5 million), Santa Elena ($2.0 million)and La Encantada ($1.7 million) mines due to temporary suspensions following Mexico's Ministry of Health's Federal Decree requiring all non-essential businesses, including mining, to temporarily suspend activities throughout most of April and May in response to the global pandemic. In addition, the Company incurred $2.0 million in standby costs related to the 13-day union work stoppage at San Dimas in June 2020.

Note 7 - General and Administ_3

Note 7 - General and Administrative Expenses - Disclosure of Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Corporate administration	$ 5,012	$ 5,202
Salaries and benefits	11,271	13,797
Audit, legal and professional fees	5,353	4,943
Filing and listing fees	499	429
Directors fees and expenses	842	793
Depreciation	1,878	1,636
Total selling, general and administrative expense	$ 24,855	$ 26,800

Note 8 - Mine Holding Costs - M

Note 8 - Mine Holding Costs - Mine Holding Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Mine holding costs	$ 21,583	$ 7,579
Del Toro [member]
Statement Line Items [Line Items]
Mine holding costs	7,999
La Parrilla [member]
Statement Line Items [Line Items]
Mine holding costs	5,563	5,010
San Martin [member]
Statement Line Items [Line Items]
Mine holding costs	5,265
La Guitarra [member]
Statement Line Items [Line Items]
Mine holding costs	$ 2,757	$ 2,569

Note 9 - Investment and Other_3

Note 9 - Investment and Other Income (Loss) - Disclosure of Finance Income (Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Gain from investment in marketable securities (Note 13(a))	$ 1,973	$ 528
Gain from investment in silver futures derivatives	2,079	1,237
Interest income and other	1,075	6,344
Investment and other income (loss)	$ 5,127	$ 8,109

Note 10 - Finance Costs (Detail

Note 10 - Finance Costs (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Debt facilities, finance costs, noncash accretion expense	$ 6.8	$ 6.4

Note 10 - Finance Costs - Discl

Note 10 - Finance Costs - Disclosure of Interest Expense (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Debt facilities(1) (Note 19)	[1]	$ 10,593	$ 10,885
Finance costs		1,479	1,142
Accretion of decommissioning liabilities		2,362	2,410
Silver sales and other		339	710
Finance costs		$ 14,773	$ 15,147
[1]	Finance costs for debt facilities include $6.8 million of non-cash accretion expense for the year ended December 31, 2020 (2019 - $6.4 million).

Note 11 - Earnings or Loss Pe_3

Note 11 - Earnings or Loss Per Share (Details Textual) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Instruments with potential future dilutive effect not included in calculation of diluted earnings per share, options (in shares)	2,666,819	7,583,439
Instruments with potential future dilutive effect not included in calculation of diluted earnings per share, restricted share units (in shares)		128,944
Instruments with potential future dilutive effect not included in calculation of diluted earnings per share, common shares issuable under convertible debentures (in shares)	16,327,598	16,327,598

Note 11 - Earnings or Loss Pe_4

Note 11 - Earnings or Loss Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Net earnings (loss) for the year		$ 23,087	$ (40,474)
Weighted average number of shares on issue - basic (in shares)		213,879,622	201,615,489
Stock options (in shares)		1,705,689
Restricted and performance share units (in shares)		293,518
Weighted average number of shares on issue - diluted(1) (in shares)	[1]	215,878,829	201,615,489
Earnings (loss) per share - basic and diluted (in dollars per share)		$ 0.11	$ (0.20)
[1]	For the year ended December 31, 2020, diluted weighted average number of shares excluded 2,666,819 (2019 - 7,583,439) options, nil restricted and performance share units (2019 - 128,944) and16,327,598 (2019 - 16,327,598) common shares issuable under the convertible debentures (Note 19(a) ) that were anti-dilutive.

Note 12 - Inventories - Disclos

Note 12 - Inventories - Disclosure of Detailed Information About Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Finished goods - doré	$ 2,812	$ 1,965
Work-in-process	2,780	3,229
Stockpile	1,336	2,130
Silver coins and bullion	956	291
Materials and supplies	24,628	22,902
Total current inventories	$ 32,512	$ 30,517

Note 13 - Other Financial Ass_3

Note 13 - Other Financial Assets (Details Textual)	Jul. 02, 2020$ / sharesshares	May 27, 2020USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	May 31, 2020USD ($)shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2020$ / shares	Dec. 31, 2020USD ($)	Jul. 02, 2020$ / shares
Statement Line Items [Line Items]
Gains (losses) on available-for-sale financial assets						$ 2,000,000	$ (500,000)
Warrants Outstanding Fair Value									$ 4,700,000
Other comprehensive income, net of tax, available-for-sale financial assets						$ 10,500,000	$ 300,000
Number of share options granted in share-based payment arrangement						2,621,924	2,601,680
Fair value share options granted						$ 12,100,000	$ 8,500,000
Silver Dollar [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement			700,000	5,146,401
Fair value share options granted			$ 700,000	$ 6,900,000		$ 8,600,000
GR Silver Mining Ltd [member]
Statement Line Items [Line Items]
Number of share options granted in share-based payment arrangement		17,097,500
Fair value share options granted		$ 1,700,000			$ 800,000
Number of shares, acquired, private placement (in shares) | shares					4,000,000
Fair value of warrants and common shares									12,900,000
Black-Scholes model [member]
Statement Line Items [Line Items]
Warrants Outstanding Fair Value									$ 5,700,000
First Mining Gold Corp [member]
Statement Line Items [Line Items]
Class of warrants or rights, number of warrant purchased (in shares) | shares	30,000,000
Class of warrants or rights, exercise price (in CAD per share) | (per share)	$ 0.40									$ 0.40
Class of warrants or rights, term (Year)	5 years
GR Silver Mining Ltd [member]
Statement Line Items [Line Items]
Class of warrants or rights, exercise price (in CAD per share) | $ / shares								$ 0.40
Class of warrants or rights, term (Year)					1 year
Class of warrants or rights, number of shares acquired (in shares) | shares					2,000,000

Note 13 - Other Financial Ass_4

Note 13 - Other Financial Assets - Disclosure of Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
FVTPL marketable securities (a)	[1]	$ 13,876	$ 5,626
FVTOCI marketable securities (b)	[2]	22,444	880
Total marketable securities		36,319	6,506
Foreign currency derivatives (Note 24)			982
Total other financial assets		$ 36,319	$ 7,488
[1]	Fair Value through Profit or Loss ("FVTPL") Marketable Securities Gain in marketable securities designated as FVTPL for the year ended December 31, 2020 was $2.0 million (2019 - loss of $0.5 million) and was recorded through profit or loss. As consideration for the acquisition of the Springpole Silver Stream (Note 14(c)), the Company received 30 million common share purchase warrants of First Mining Gold Corp., each of which will entitle the Company to purchase one common share of First Mining at CAD$0.40 over a period of five years. The fair value of the warrants was measured at $5.7 million using the Black-Scholes model at the time of the acquisition, and subsequently remeasured at $4.7 million at December 31, 2020. Gain in marketable securities designated as FVTPL for the year ended December 31, 2020 was $2.0 million (2019 - loss of $0.5 million) and was recorded through profit or loss. As consideration for the acquisition of the Springpole Silver Stream (Note 14(c)), the Company received 30 million common share purchase warrants of First Mining Gold Corp., each of which will entitle the Company to purchase one common share of First Mining at CAD$0.40 over a period of five years. The fair value of the warrants was measured at $5.7 million using the Black-Scholes model at the time of the acquisition, and subsequently remeasured at $4.7 million at December 31, 2020.
[2]	Fair Value through Other Comprehensive Income ("FVTOCI") Marketable Securities Changes in fair value of marketable securities designated as FVTOCI for the year ended December 31, 2020 was $10.5 million (2019 - $0.3 million), net of tax, and was recorded through other comprehensive income and will not be transferred into earnings or loss upon disposition or impairment. As part of the consideration received for the option arrangement of the La Joya Project (see Note 14(d)), in September 2020, the Company received 5,146,401 common shares of Silver Dollar Resources Inc. ("Silver Dollar") with a fair value of $6.9 million. In September and December 2020, the Company participated in two private placements of Silver Dollar to acquire an additional 700,000 common shares for $0.7 million. As at December 31, 2020, the fair value of these shares was $8.6 million. As part of consideration received for the sale of the Plomosas Silver Project (see Note 14(e)), the Company received 17,097,500 common shares of GR Silver Mining Ltd. with a fair value of $1.7 million on March 27, 2020. In May 2020, the Company participated in a private placement by GR Silver Mining Ltd. ("GR Silver") and for $0.8 million acquired an additional 4,000,000 shares with 2,000,000 one-year warrants with a strike price of CAD$0.40 per share. As at December 31, 2020, the fair value of these shares was $12.9 million. These shares are designated as FVTOCI marketable securities while the warrants are designated as FVTPL marketable securities.

Note 14 - Mining Interests (Det

Note 14 - Mining Interests (Details Textual) $ / shares in Units, $ / shares in Units, $ in Millions

Jan. 21, 2021USD ($)shares

Jul. 02, 2020USD ($)$ / ozshares

May 10, 2018USD ($)

Aug. 31, 2020USD ($)

May 31, 2020

Apr. 30, 2018

Mar. 31, 2020USD ($)shares

Mar. 31, 2020CAD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)shares

Dec. 31, 2019USD ($)

Dec. 31, 2020$ / shares

Dec. 31, 2020USD ($)

Aug. 31, 2020CAD ($)

Jul. 02, 2020$ / shares

Jul. 02, 2020USD ($)$ / shares

Mar. 31, 2020CAD ($)shares

Statement Line Items [Line Items]

Purchase of mining assets

$ 68,647,000

$ 76,983,000

Assets arising from exploration for and evaluation of mineral resources

463,391,000

$ 509,730,000

Total assets

1,012,952,000

1,237,517,000

Minera La Rastra, S.A. de C.V. [member]

Statement Line Items [Line Items]

Assets arising from exploration for and evaluation of mineral resources

$ 13,100,000

Net gains (losses) on disposals of property, plant and equipment

6,500,000

Disposal of subsidiary, consideration

$ 1,700,000

Disposal of subsidiary, consideration, number of shares received (in shares) | shares

17,097,500

17,097,500

Total assets

$ 11,800,000

Net gains (losses) on disposals of investments

(10,200,000)

Black-Scholes model [member]

Statement Line Items [Line Items]

warrants measurement input, fair value

$ 5,700,000

Springpole silver stream [member]

Statement Line Items [Line Items]

Percentage of life of mine payable silver produced

50.00%

Acquisition of mining interest, price

22,500,000

Percentage of silver spot price

33.00%

Purchase silver, price (in USD per Ounce) | $ / oz

7.5

Purchase price, annual inflation escalation

2.00%

Acquisition of mining interest, consideration transferred

$ 10,000,000

Purchase of mining assets

2,500,000

Acquisition of mining interest, shares issued, value

$ 7,500,000

Acquisition of mining interest, shares issued (in shares) | shares

805,698

Percentage of life of mine payable silver production

25.00%

Other financial assets

5,700,000

Assets arising from exploration for and evaluation of mineral resources

$ 4,300,000

Springpole silver stream [member] | Acquisition of the Springpole Stream [member]

Statement Line Items [Line Items]

Acquisition of mining interest, consideration transferred

$ 7,500,000

Purchase of mining assets

3,750,000

$ 2,500,000

Acquisition of mining interest, shares issued, value

$ 3,750,000

$ 2,500,000

Acquisition of mining interest, shares issued (in shares) | shares

287,300

La joya silver project [member]

Statement Line Items [Line Items]

Assets arising from exploration for and evaluation of mineral resources

600,000

Option agreement, net smelter returns royalty

2.00%

2.00%

Mexico - Santa Elena [member]

Statement Line Items [Line Items]

Total assets

$ 134,666,000

$ 166,525,000

Sandstorm Gold Ltd. [member] | Mexico - Santa Elena [member]

Statement Line Items [Line Items]

Percent of gold production required to be sold

20.00%

Gold, selling price, per ounce

450

Purchase agreement, annual inflation increase, percent

1.00%

Sandstorm Gold Ltd. [member] | Mexico - Santa Elena [member] | Top of range [member]

Statement Line Items [Line Items]

Gold, selling price, per ounce

464

Wheaton Precious Metals International Ltd. [member]

Statement Line Items [Line Items]

New stream agreement, percentage of gold equivalent production, counter party

25.00%

New stream agreement, ongoing payments, upper range limit

$ 600

New stream agreement, percentage of annual inflation adjustment

1.00%

First Mining Gold Corp [member]

Statement Line Items [Line Items]

Class of warrants or rights, number of warrant purchased (in shares) | shares

30,000,000

Class of warrants or rights, exercise price (in CAD per share) | (per share)

$ 0.40

$ 0.40

Class of warrants or rights, term (Year)

5 years

Silver Dollar Resources Inc. [member] | La joya silver project [member]

Statement Line Items [Line Items]

Option agreement, term (Year)

5 years

Percentage of interest in project

80.00%

Percentage of interest in project, additional to be earned

20.00%

Price of interest in project to be transferred

$ 1.3

Percentage of counterparty's outstanding common shares, receivable, within one year, incur 1 million of exploration expenditure within the first 5 year

19.90%

19.90%

Option agreement, waive, remaining cash option payment, incur exploration expenditures within first three years

$ 600,000

Option agreement, second option, percentage of interest in project be transferred

20.00%

20.00%

Option agreement, second option, consideration, percentage of counterparty's outstanding common shares

5.00%

5.00%

Proceeds from disposal of mining assets

$ 300,000

Number of shares received from counterparty as consideration for mining interest (in shares) | shares

5,146,401

Fair value of shares received from counterparty as consideration for mining interest

$ 6,900,000

GR Silver Mining Ltd [member]

Statement Line Items [Line Items]

Class of warrants or rights, exercise price (in CAD per share) | $ / shares

$ 0.40

Class of warrants or rights, term (Year)

1 year

GR Silver Mining Ltd [member] | Minera La Rastra, S.A. de C.V. [member]

Statement Line Items [Line Items]

Disposal of subsidiary, consideration, fair value of shares received

$ 1,700,000

Cash flows from losing control of subsidiaries or other businesses

$ 0.1

Net smelter return royalty

2.00%

2.00%

GR Silver Mining Ltd [member] | Plomosas Silver Project [member]

Statement Line Items [Line Items]

Option to repurchase NSR, price

$ 1

Note 14 - Mining Interests - Di

Note 14 - Mining Interests - Disclosure of Detailed Information About Mining Interests (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Assets arising from exploration for and evaluation of mineral resources	$ 509,730	$ 463,391
Producing properties [member]
Statement Line Items [Line Items]
Assets arising from exploration for and evaluation of mineral resources	392,185	367,348
Exploration properties [member]
Statement Line Items [Line Items]
Assets arising from exploration for and evaluation of mineral resources	$ 117,545	$ 96,043

Note 14 - Mining Interests - _2

Note 14 - Mining Interests - Disclosure of Detailed Information About Mining Interests, Producing Properties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Ending mining interests	$ 463,391
Ending mining interests	509,730	$ 463,391
Producing properties [member]
Statement Line Items [Line Items]
Ending mining interests	367,348
Ending mining interests	392,185	367,348
Producing properties [member] | Mexico - San Dimas [member]
Statement Line Items [Line Items]
Ending mining interests	193,433
Ending mining interests	204,592	193,433
Producing properties [member] | Mexico - Santa Elena [member]
Statement Line Items [Line Items]
Ending mining interests	45,046
Ending mining interests	52,892	45,046
Producing properties [member] | Mexico - La Encantada [member]
Statement Line Items [Line Items]
Ending mining interests	23,091
Ending mining interests	25,865	23,091
Producing properties [member] | Mexico - La Parrilla [member]
Statement Line Items [Line Items]
Ending mining interests	105,778
Ending mining interests	108,837	105,778
Producing properties [member] | Mexico - Del Toro [member]
Statement Line Items [Line Items]
Ending mining interests	367,348
Ending mining interests	392,185	367,348
Producing properties [member] | Gross carrying amount [member] | Mexico - San Dimas [member]
Statement Line Items [Line Items]
Ending mining interests	220,658	193,305
Additions	21,263	24,596
Change in decommissioning liabilities (Note 21)	4,527	301
Transfer to producing properties	3,645	2,456
Ending mining interests	250,093	220,658
Producing properties [member] | Gross carrying amount [member] | Mexico - Santa Elena [member]
Statement Line Items [Line Items]
Ending mining interests	61,654	45,041
Additions	6,218	6,813
Change in decommissioning liabilities (Note 21)	1,191	2,338
Transfer to producing properties	4,229	7,462
Ending mining interests	73,292	61,654
Producing properties [member] | Gross carrying amount [member] | Mexico - La Encantada [member]
Statement Line Items [Line Items]
Ending mining interests	111,590	99,436
Additions	4,201	5,995
Change in decommissioning liabilities (Note 21)	2,049	500
Transfer to producing properties	472	5,659
Ending mining interests	118,312	111,590
Producing properties [member] | Gross carrying amount [member] | Mexico - La Parrilla [member]
Statement Line Items [Line Items]
Ending mining interests	494,132	478,883
Additions		9,088
Change in decommissioning liabilities (Note 21)	3,059	6,161
Transfer to producing properties
Ending mining interests	497,191	494,132
Producing properties [member] | Gross carrying amount [member] | Mexico - Del Toro [member]
Statement Line Items [Line Items]
Ending mining interests	888,034	816,665
Additions	31,682	46,492
Change in decommissioning liabilities (Note 21)	10,826	9,300
Transfer to producing properties	8,346	15,577
Ending mining interests	938,888	888,034
Producing properties [member] | Accumulated depreciation, amortisation and impairment [member] | Mexico - San Dimas [member]
Statement Line Items [Line Items]
Ending mining interests	(27,225)	(10,871)
Depletion and amortization	(18,277)	(16,354)
Impairment
Ending mining interests	(45,502)	(27,225)
Producing properties [member] | Accumulated depreciation, amortisation and impairment [member] | Mexico - Santa Elena [member]
Statement Line Items [Line Items]
Ending mining interests	(16,608)	(11,594)
Depletion and amortization	(3,792)	(5,014)
Impairment
Ending mining interests	(20,400)	(16,608)
Producing properties [member] | Accumulated depreciation, amortisation and impairment [member] | Mexico - La Encantada [member]
Statement Line Items [Line Items]
Ending mining interests	(88,499)	(59,872)
Depletion and amortization	(3,948)	(6,025)
Impairment		(22,602)
Ending mining interests	(92,447)	(88,499)
Producing properties [member] | Accumulated depreciation, amortisation and impairment [member] | Mexico - La Parrilla [member]
Statement Line Items [Line Items]
Ending mining interests	(388,354)	(380,677)
Depletion and amortization		(7,677)
Impairment
Ending mining interests	(388,354)	(388,354)
Producing properties [member] | Accumulated depreciation, amortisation and impairment [member] | Mexico - Del Toro [member]
Statement Line Items [Line Items]
Ending mining interests	(520,686)	(463,014)
Depletion and amortization	(26,017)	(35,070)
Impairment		(22,602)
Ending mining interests	$ (546,703)	$ (520,686)

Note 14 - Mining Interests - _3

Note 14 - Mining Interests - Disclosure of Detailed Information About Mining Interests, Exploration Properties (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Ending mining interests		$ 463,391
Ending mining interests		509,730	$ 463,391
Exploration properties [member]
Statement Line Items [Line Items]
Ending mining interests		96,043
Ending mining interests		117,545	96,043
Exploration properties [member] | Mexico - San Dimas [member]
Statement Line Items [Line Items]
Ending mining interests	[1]	8,699	3,705
Exploration and evaluation expenditures	[1]	12,125	7,450
Change in decommissioning liabilities (Note 21)	[1]
Impairment	[1]
Transfer to producing properties	[1]	(3,645)	(2,456)
Sale of exploration project	[1]
Ending mining interests	[1]	17,179	8,699
Exploration properties [member] | Mexico - Santa Elena [member]
Statement Line Items [Line Items]
Ending mining interests	[2]	18,592	14,316
Exploration and evaluation expenditures	[2]	19,588	11,738
Change in decommissioning liabilities (Note 21)	[2]
Impairment	[2]
Transfer to producing properties	[2]	(4,229)	(7,462)
Sale of exploration project	[2]
Ending mining interests	[2]	33,951	18,592
Exploration properties [member] | Mexico - La Encantada [member]
Statement Line Items [Line Items]
Ending mining interests		1,104	5,660
Exploration and evaluation expenditures		2,323	2,164
Change in decommissioning liabilities (Note 21)
Impairment			(1,061)
Transfer to producing properties		(472)	(5,659)
Sale of exploration project
Ending mining interests		2,955	1,104
Exploration properties [member] | Mexico - La Parrilla [member]
Statement Line Items [Line Items]
Ending mining interests	[3]	32,938	24,841
Exploration and evaluation expenditures	[3]	4,066	8,097
Change in decommissioning liabilities (Note 21)	[3]
Impairment	[3]
Transfer to producing properties	[3]
Sale of exploration project	[3]
Ending mining interests	[3]	37,004	32,938
Exploration properties [member] | Mexico - Del Toro [member]
Statement Line Items [Line Items]
Ending mining interests	[4]	34,710	33,440
Exploration and evaluation expenditures	[4]	1,142	1,032
Change in decommissioning liabilities (Note 21)	[4]	59	238
Impairment	[4]
Transfer to producing properties	[4]
Sale of exploration project	[4]	(13,812)
Ending mining interests	[4]	22,099	34,710
Exploration properties [member] | Mexico - San Martin [member]
Statement Line Items [Line Items]
Ending mining interests	[5]
Exploration and evaluation expenditures	[5]	4,356
Change in decommissioning liabilities (Note 21)	[5]
Impairment	[5]
Transfer to producing properties	[5]
Sale of exploration project	[5]
Ending mining interests	[5]	4,356
Exploration properties [member] | Mexico - La Guitarra [member]
Statement Line Items [Line Items]
Ending mining interests		96,043	81,962
Exploration and evaluation expenditures		43,601	30,481
Change in decommissioning liabilities (Note 21)		59	238
Impairment			(1,061)
Transfer to producing properties		(8,346)	(15,577)
Sale of exploration project		(13,812)
Ending mining interests		$ 117,545	$ 96,043
[1]	San Dimas Silver/Gold Mine, Durango State In 2018, the San Dimas Mine is subject to a gold and silver streaming agreement with WPMI which entitles WPM to receive 25% of the gold equivalent production (based on a fixed exchange ratio of 70 silver ounces to 1 gold ounce) at San Dimas in exchange for ongoing payments equal to the lesser of $600 (subject to a 1% annual inflation adjustment commencing in May 2019) and the prevailing market price, for each gold ounce delivered. Should the average gold to silver ratio over a six month period exceed 90:1 or fall below 50:1, the fixed exchange ratio would be increased to 90:1 or decreased to 50:1, respectively. The fixed gold to silver exchange ratio was revised to 90:1 on April 1, 2020 and reverted to 70:1 on October 14, 2020 after the average gold to silver price ratio over a six month period fell back below 90:1.
[2]	Santa Elena Silver/Gold Mine, Sonora State The Santa Elena Mine is subject to a gold streaming agreement with Sandstorm, which requires the mine to sell 20% of its life of mine gold production from its leach pad and a designated area of its underground operations to Sandstorm. The selling price to Sandstorm is currently the lesser of $464 per ounce, subject to a 1% annual inflation increase every April, and the prevailing market price.
[3]	Non-producing properties include the San Martin, Del Toro, La Parrilla and La Guitarra mines
[4]	Exploration projects include the La Luz, La Joya, Los Amoles, Jalisco Group of Properties and Jimenez del Tuel projects, as well as the Plomosas project which was sold during 2020.
[5]	Springpole Silver Stream, Ontario, Canada On July 2, 2020, the Company completed an agreement with First Mining Gold Corp. ("First Mining") to purchase 50% of the life of mine payable silver produced from the Springpole Gold Project ("Springpole Silver Stream"), a development stage mining project located in Ontario, Canada. Pursuant to the agreement, First Majestic agreed to pay First Mining consideration of $22.5 million in cash and shares, in three milestone payments, for the right to purchase silver at a price of 33% of the silver spot price per ounce, to a maximum of $7.50 per ounce (subject to annual inflation escalation of 2%, commencing at the start of the third anniversary of production). Commencing with its production of silver, First Mining must deliver 50% of the payable silver which it receives from the offtaker within five business days of the end of each quarter.

Note 15 - Property, Plant and_3

Note 15 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Total property, plant and equipment	$ 258,220	$ 236,639
Land not subject to depreciation [member]
Statement Line Items [Line Items]
Total property, plant and equipment	$ 11,200	$ 11,500

Note 15 - Property, Plant and_4

Note 15 - Property, Plant and Equipment - Disclosure of Detailed Information About Property, Plant and Equipment (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Line Items [Line Items]
Beginning property, plant and equipment		$ 236,639
Ending property, plant and equipment		258,220	$ 236,639
Land and buildings [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment	[1]	69,372
Ending property, plant and equipment	[1]	66,173	69,372
Machinery and Equipment [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		130,355
Ending property, plant and equipment		125,245	130,355
Assets under construction [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment	[2]	27,645
Ending property, plant and equipment	[2]	55,669	27,645
Other property, plant and equipment [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		9,267
Ending property, plant and equipment		11,133	9,267
Gross carrying amount [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		752,273	707,150	$ 667,809
Additions			49,753	47,221
Transfers and disposals			(4,630)	(7,880)
Ending property, plant and equipment			752,273	707,150
Gross carrying amount [member] | Land and buildings [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment	[1]	199,329	198,412	177,864
Additions	[1]
Transfers and disposals	[1]		917	20,548
Ending property, plant and equipment	[1]		199,329	198,412
Gross carrying amount [member] | Machinery and Equipment [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		468,624	456,655	430,862
Additions			2,096	1,991
Transfers and disposals			9,873	23,802
Ending property, plant and equipment			468,624	456,655
Gross carrying amount [member] | Assets under construction [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment	[2]	55,669	27,645	35,673
Additions	[2]		47,266	44,709
Transfers and disposals	[2]		(19,242)	(52,737)
Ending property, plant and equipment	[2]		55,669	27,645
Gross carrying amount [member] | Other property, plant and equipment [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		28,651	24,438	23,410
Additions			391	521
Transfers and disposals			3,822	507
Ending property, plant and equipment			28,651	24,438
Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		(494,053)	(470,511)	(416,725)
Transfers and disposals			3,034	5,919
Depreciation and amortization			(26,576)	(30,931)
Impairment				(28,774)
Ending property, plant and equipment			(494,053)	(470,511)
Accumulated depreciation, amortisation and impairment [member] | Land and buildings [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment	[1]	(133,156)	(129,040)	(111,258)
Transfers and disposals	[1]		72	271
Depreciation and amortization	[1]		(4,188)	(4,980)
Impairment	[1]			(13,073)
Ending property, plant and equipment	[1]		(133,156)	(129,040)
Accumulated depreciation, amortisation and impairment [member] | Machinery and Equipment [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		(343,379)	(326,300)	(291,959)
Transfers and disposals			2,754	5,189
Depreciation and amortization			(19,833)	(23,829)
Impairment				(15,701)
Ending property, plant and equipment			(343,379)	(326,300)
Accumulated depreciation, amortisation and impairment [member] | Assets under construction [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment	[2]
Transfers and disposals	[2]
Depreciation and amortization	[2]
Impairment	[2]
Ending property, plant and equipment	[2]
Accumulated depreciation, amortisation and impairment [member] | Other property, plant and equipment [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		$ (17,518)	(15,171)	(13,508)
Transfers and disposals			208	459
Depreciation and amortization			(2,555)	(2,122)
Impairment
Ending property, plant and equipment			$ (17,518)	$ (15,171)
[1]	Included in land and buildings is $11.2 million (2019 - $11.5 million) of land which is not subject to depreciation.
[2]	Assets under construction includes certain innovation projects, such as high-intensity grinding ("HIG") mills and related modernization, plant improvements, other mine infrastructures and equipment overhauls.

Note 15 - Property, Plant and_5

Note 15 - Property, Plant and Equipment - Disclosure of Detailed Information About Property, Plant and Equipment, Allocated By Mine (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018
Statement Line Items [Line Items]
Beginning property, plant and equipment		$ 236,639
Ending property, plant and equipment		258,220		$ 236,639
Mexico - San Dimas [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		116,556		116,556
Ending property, plant and equipment		112,105		116,556	$ 116,556
Mexico - Santa Elena [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		47,787		47,787
Ending property, plant and equipment		49,245		47,787	47,787
Mexico - La Encantada [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		14,736		14,736
Ending property, plant and equipment		16,555		14,736	14,736
Mexico - La Parrilla [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment	[1]			31,050
Ending property, plant and equipment	[1]	29,888			31,050
Mexico - Del Toro [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment				26,510
Ending property, plant and equipment		50,427			26,510
Mexico - San Martin [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment				236,639
Ending property, plant and equipment		258,220			236,639
Gross carrying amount [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		752,273		707,150	667,809
Additions				49,753	47,221
Transfers and disposals				(4,630)	(7,880)
Transfers and disposals				(4,630)	(7,880)
Ending property, plant and equipment				752,273	707,150
Gross carrying amount [member] | Mexico - San Dimas [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		136,303		127,763
Additions		10,384	[2]	10,465
Transfers and disposals		41		(1,925)
Transfers and disposals		41		(1,925)
Ending property, plant and equipment		146,728		136,303	127,763
Gross carrying amount [member] | Mexico - Santa Elena [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		90,762		76,671
Additions		7,933	[2]	4,453
Transfers and disposals		(1,364)		9,638
Transfers and disposals		(1,364)		9,638
Ending property, plant and equipment		97,331		90,762	76,671
Gross carrying amount [member] | Mexico - La Encantada [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		137,302		132,146
Additions		4,209	[2]	5,066
Transfers and disposals		1,999		90
Transfers and disposals		1,999		90
Ending property, plant and equipment		143,510		137,302	132,146
Gross carrying amount [member] | Mexico - La Parrilla [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment	[1]	297,240		299,037
Additions	[1]	272	[2]	3,073
Transfers and disposals	[1]	(3,751)		(4,870)
Transfers and disposals	[1]	(3,751)		(4,870)
Ending property, plant and equipment	[1]	293,761		297,240	299,037
Gross carrying amount [member] | Mexico - Del Toro [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		45,543		32,192
Additions		26,955	[2]	24,164
Transfers and disposals		(1,555)		(10,813)
Transfers and disposals		(1,555)		(10,813)
Ending property, plant and equipment		70,943		45,543	32,192
Gross carrying amount [member] | Mexico - San Martin [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		707,150		667,809
Additions		49,753	[2]	47,221
Transfers and disposals		(4,630)		(7,880)
Transfers and disposals		(4,630)		(7,880)
Ending property, plant and equipment		752,273		707,150	667,809
Accumulated depreciation, amortisation and impairment [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		(494,053)		(470,511)	(416,725)
Transfers and disposals				3,034	5,919
Depreciation and amortization				(26,576)	(30,931)
Transfers and disposals				3,034	5,919
Impairment					(28,774)
Ending property, plant and equipment				(494,053)	(470,511)
Accumulated depreciation, amortisation and impairment [member] | Mexico - San Dimas [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		(19,747)		(7,545)
Transfers and disposals		156		153
Depreciation and amortization		(15,032)		(12,355)
Transfers and disposals		156		153
Impairment
Ending property, plant and equipment		(34,623)		(19,747)	(7,545)
Accumulated depreciation, amortisation and impairment [member] | Mexico - Santa Elena [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		(42,975)		(37,007)
Transfers and disposals		1,340		1,021
Depreciation and amortization		(6,451)		(6,989)
Transfers and disposals		1,340		1,021
Impairment
Ending property, plant and equipment		(48,086)		(42,975)	(37,007)
Accumulated depreciation, amortisation and impairment [member] | Mexico - La Encantada [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		(122,566)		(89,086)
Transfers and disposals		(1,743)		572
Depreciation and amortization		(2,646)		(5,278)
Transfers and disposals		(1,743)		572
Impairment				(28,774)
Ending property, plant and equipment		(126,955)		(122,566)	(89,086)
Accumulated depreciation, amortisation and impairment [member] | Mexico - La Parrilla [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment	[1]	(266,190)		(265,811)
Transfers and disposals	[1]	2,909		3,999
Depreciation and amortization	[1]	(592)		(4,378)
Transfers and disposals	[1]	2,909		3,999
Impairment	[1]
Ending property, plant and equipment	[1]	(263,873)		(266,190)	(265,811)
Accumulated depreciation, amortisation and impairment [member] | Mexico - Del Toro [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		(19,033)		(17,276)
Transfers and disposals		372		174
Depreciation and amortization		(1,855)		(1,931)
Transfers and disposals		372		174
Impairment
Ending property, plant and equipment		(20,516)		(19,033)	(17,276)
Accumulated depreciation, amortisation and impairment [member] | Mexico - San Martin [member]
Statement Line Items [Line Items]
Beginning property, plant and equipment		(470,511)		(416,725)
Transfers and disposals		3,034		5,919
Depreciation and amortization		(26,576)		(30,931)
Transfers and disposals		3,034		5,919
Impairment				(28,774)
Ending property, plant and equipment		$ (494,053)		$ (470,511)	$ (416,725)
[1]	Non-producing properties include the San Martin, Del Toro, La Parrilla and La Guitarra mines.
[2]	Additions classified in "Other" primarily consist of innovation projects and construction-in-progress.

Note 16 - Right-of-use Assets -

Note 16 - Right-of-use Assets - Right-of-use Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Balance	$ 12,034
Initial adoption		3,682
Additions	2,494	14,703
Remeasurements	2,779	1,918
Depreciation and amortization	(2,961)	(1,967)
Impairment		(6,302)
Additions	2,494	14,703
Remeasurements	2,779	1,918
Disposals	(16)
Balance	14,330	12,034
Land and buildings [member]
Statement Line Items [Line Items]
Balance	4,207
Initial adoption		2,624
Additions	1,939	571
Remeasurements	2,789	1,686
Depreciation and amortization	(848)	(674)
Impairment
Additions	1,939	571
Remeasurements	2,789	1,686
Disposals
Balance	8,087	4,207
Machinery and Equipment [member]
Statement Line Items [Line Items]
Balance	7,812
Initial adoption		1,036
Additions	554	14,132
Remeasurements	(10)	232
Depreciation and amortization	(2,106)	(1,286)
Impairment		(6,302)
Additions	554	14,132
Remeasurements	(10)	232
Disposals	(16)
Balance	6,234	7,812
Other property, plant and equipment [member]
Statement Line Items [Line Items]
Balance	15
Initial adoption		22
Additions
Remeasurements
Depreciation and amortization	(7)	(7)
Impairment
Additions
Remeasurements
Disposals
Balance	$ 8	$ 15

Note 17 - Impairment of Non-c_3

Note 17 - Impairment of Non-current Assets (Details Textual)	Dec. 31, 2019
Statement Line Items [Line Items]
Discount rate applied to cash flow projections	4.50%

Note 17 - Impairment of Non-c_4

Note 17 - Impairment of Non-current Assets - Disclosure of Impairment Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Impairment of non-current assets		$ 58,739
Deferred income tax recovery		(6,300)
Impairment of non-current assets, net of tax		$ 52,439

Note 17 - Impairment of Non-c_5

Note 17 - Impairment of Non-current Assets - Disclosure of Impairment Loss In Respect of Each Operating Segment Or Project (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Impairment of non-current assets		$ 58,739
Mexico - La Encantada [member]
Statement Line Items [Line Items]
Impairment of non-current assets		58,739
Mexico - La Encantada [member] | Right-of-use assets [member]
Statement Line Items [Line Items]
Impairment of non-current assets		6,302
Mexico - La Encantada [member] | Producing properties [member]
Statement Line Items [Line Items]
Impairment of non-current assets		22,602
Mexico - La Encantada [member] | Exploration properties [member]
Statement Line Items [Line Items]
Impairment of non-current assets		1,061
Mexico - La Encantada [member] | Property, plant and equipment other than mining interests [member]
Statement Line Items [Line Items]
Impairment of non-current assets		$ 28,774

Note 17 - Impairment of Non-c_6

Note 17 - Impairment of Non-current Assets - Explanation of Inputs, Assumptions and Estimation Techniques Used to Apply Impairment Requirements (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
The 2019 to 2022 average [member] | Silver (per ounce) [member]
Statement Line Items [Line Items]
Average commodity price	$ 18.84
The 2019 to 2022 average [member] | Gold (per ounce) [member]
Statement Line Items [Line Items]
Average commodity price	1,536
Long-term [member] | Silver (per ounce) [member]
Statement Line Items [Line Items]
Average commodity price	19.50
Long-term [member] | Gold (per ounce) [member]
Statement Line Items [Line Items]
Average commodity price	$ 1,416

Note 18 - Trade and Other Pay_3

Note 18 - Trade and Other Payables - Disclosure of Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Trade payables	$ 31,262	$ 23,984
Trade related accruals	18,635	12,314
Payroll and related benefits	21,427	19,059
Environmental duty	2,156	1,483
Other accrued liabilities	2,522	2,283
Total trade and other current payables	$ 76,002	$ 59,123

Note 19 - Debt Facilities (Deta

Note 19 - Debt Facilities (Details Textual) $ / shares in Units, $ in Millions	Mar. 06, 2021$ / shares	May 10, 2018USD ($)	Mar. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2020
Statement Line Items [Line Items]
Equipment financing obligations, maximum available		$ 30
Five year convertible debentures [member]
Statement Line Items [Line Items]
Proceeds from issuing convertible debentures			$ 156.5
Proceeds from issuing convertible debentures, net			151.1
Payments of transaction costs for borrowings			$ 5.4
Borrowings, interest rate			1.875%
Convertible debentures, conversion rate per $1000 (in shares) | shares			104.3297
Convertible debentures, conversion price per share (in dollars per share) | $ / shares			$ 9.59
Convertible debentures, fair value of the debt portion			$ 124.8
Convertible debentures, fair value of debt portion, discounted cash flow model method, expected life (Year)			5 years
Convertible debentures, fair value of debt portion, discounted cash flow model method, discount rate			6.14%
Convertible debentures, fair value component, effective interest rate			6.47%
Reserve of equity component of convertible instruments			$ 26.3
Reserve of equity component of convertible instruments, deferred tax liability			7.1
Amortizable transaction costs			$ 5.4
Five year convertible debentures [member] | Convertible debentures redeemption [member]
Statement Line Items [Line Items]
Convertible debentures, conversion price per share (in dollars per share) | $ / shares	$ 12.47
Convertible debentures, share price threshold	130.00%
Revolving credit facility with three lenders [member]
Statement Line Items [Line Items]
Borrowings available under line of credit		$ 75
Line of credit, term (Year)		3 years
Covenant leverage ratio based on total debt to rolling four quarters adjusted EBITDA		3
Interest Coverage Ratio Covenant		4
Tangible Net worth threshold covenants		$ 563.5
Tangible net worth threshold, covenants, percentage of positive earnings added to tangible net worth		50.00%
Revolving credit facility with three lenders [member] | Bottom of range [member]
Statement Line Items [Line Items]
Borrowings, interest rate				2.90%
Borrowings, adjustment to interest rate basis		2.25%
Line of credit, standby fee, percentage of undrawn portion		0.5625%
Revolving credit facility with three lenders [member] | Top of range [member]
Statement Line Items [Line Items]
Borrowings, interest rate				0.6875%
Borrowings, adjustment to interest rate basis		3.50%
Line of credit, standby fee, percentage of undrawn portion		0.875%

Note 19 - Debt Facilities - Dis

Note 19 - Debt Facilities - Disclosure of Detailed Information About Debt Activity (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019		Dec. 31, 2020	Dec. 31, 2019		Dec. 31, 2017
Statement Line Items [Line Items]
Debt facilities, balance		$ 155,818
Proceeds from drawdown of Revolving Credit Facility		10,000
Current portion of debt facilities					$ 10,975	$ 1,175
Non-current portion of debt facilities					141,733	154,643
Balance at December 31, 2019		155,818	155,818		152,708	155,818
Debt facilities, balance		152,708	155,818
Five year convertible debentures [member]
Statement Line Items [Line Items]
Debt facilities, balance	[1]	136,607
Interest and accretion expense	[1]	2,984	2,975
Accretion	[1]	6,168	5,758
Payments of finance costs	[1]	(2,934)	(2,933)
Proceeds from drawdown of Revolving Credit Facility
Repayments of principal	[1]
Current portion of debt facilities	[1]				1,092	1,043
Non-current portion of debt facilities					141,733	135,564
Balance at December 31, 2019		142,825	136,607	[1]	142,825	136,607	[1]	$ 130,807	[1]
Debt facilities, balance		142,825	136,607	[1]
Revolving credit facility with three lenders [member]
Statement Line Items [Line Items]
Debt facilities, balance	[2]	19,211
Interest and accretion expense	[2]	763	1,498
Accretion	[2]	678	654
Payments of finance costs	[2]	(801)	(1,646)
Proceeds from drawdown of Revolving Credit Facility		10,000
Repayments of principal	[2]	(19,969)
Current portion of debt facilities	[2]				9,882	132
Non-current portion of debt facilities						19,079
Balance at December 31, 2019		9,882	19,211	[2]	9,882	19,211	[2]	18,705	[2]
Debt facilities, balance		9,882	19,211	[2]
Scotia Debt Facilities [Member]
Statement Line Items [Line Items]
Debt facilities, balance		155,818
Interest and accretion expense		3,747	4,473
Accretion		6,846	6,412
Payments of finance costs		(3,735)	(4,579)
Proceeds from drawdown of Revolving Credit Facility		10,000
Repayments of principal		(19,969)
Current portion of debt facilities					10,975	1,175
Non-current portion of debt facilities					141,733	154,643
Balance at December 31, 2019		152,707	155,818		$ 152,707	$ 155,818		$ 149,512
Debt facilities, balance		$ 152,707	$ 155,818
[1]	During the first quarter of 2018, the Company issued $156.5 million of unsecured senior convertible debentures (the "Notes"). The Company received net proceeds of $151.1 million after transaction costs of $5.4 million. The Notes mature on March 1, 2023 and bear an interest rate of 1.875% per annum, payable semi-annually in arrears in March and September of each year. The Notes are convertible into common shares of the Company at any time prior to maturity at a conversion rate of 104.3297 common shares per $1,000 principal amount of Notes converted, representing an initial conversion price of $9.59 per common share, subject to certain anti-dilution adjustments. In addition, if certain fundamental changes occur, holders of the Notes may be entitled to an increased conversion rate. The Company may not redeem the Notes before March 6, 2021, except in the event of certain changes in Canadian tax law. At any time on or after March 6, 2021 and until maturity, the Company may redeem all or part of the Notes for cash if the last reported share price of the Company's common shares for 20 or more trading days in a period of 30 consecutive trading days exceeds 130% of the conversion price. The redemption price is equal to the sum of: (i) 100% of the principal amount of the notes to be redeemed and (ii) accrued and unpaid interest, if any, to the redemption date. The Company is required to offer to purchase for cash all of the outstanding Notes upon a fundamental change, at a cash purchase price equal to 100% of the principal amount of the Notes to be purchased, plus accrued and unpaid interest, if any, to the fundamental change purchase date. The component parts of the convertible debentures, a compound instrument, are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement and the definitions of a financial liability and an equity instrument. A conversion option that will be settled by the exchange of a fixed amount of cash or another financial asset for a fixed number of the Company's own equity instrument is an equity instrument. At initial recognition, net proceeds of $151.1 million from the Notes were allocated into its debt and equity components. The fair value of the debt portion was estimated at $124.8 million using a discounted cash flow model method with an expected life of five years and a discount rate of 6.14%. This amount is recorded as a financial liability on an amortized cost basis using the effective interest method using an effective interest rate of 6.47% until extinguished upon conversion or at its maturity date. The conversion option is classified as equity and was estimated based on the residual value of $26.3 million. This amount is not subsequently remeasured and will remain in equity until the conversion option is exercised, in which case, the balance recognized in equity will be transferred to share capital. Where the conversion option remains unexercised at the maturity date of the convertible note, the balance will remain in equity reserves. Deferred tax liability of $7.1 million related to taxable temporary difference arising from the equity portion of the convertible debenture was recognized in equity reserves. Transaction costs of $5.4 million that relate to the issuance of the convertible debentures were allocated to the liability and equity components in proportion to the allocation of the gross proceeds. Transaction costs relating to the equity component are recognized directly in equity. Transaction costs relating to the liability component are included in the carrying amount of the liability component and are amortized over the life of the convertible debentures using the effective interest method.
[2]	On May 10, 2018, the Company entered into a $75.0 million senior secured revolving credit facility ("Revolving Credit Facility") with the Bank of Nova Scotia, Bank of Montreal and Investec Bank PLC, as lenders. The Revolving Credit Facility will mature on its third anniversary date on May 10, 2021. Interest on the drawn balance will accrue at LIBOR plus an applicable range of 2.25% to 3.5% while the undrawn portion is subject to a standby fee with an applicable range of 0.5625% to 0.875%, dependent on certain financial parameters of First Majestic. As at December 31, 2020, the applicable rates were 2.9% to 0.6875%, respectively. These debt facilities are guaranteed by certain subsidiaries of the Company and are also secured by a first priority charge against the assets of the Company, and a first priority pledge of shares of the Company's subsidiaries. The Revolving Credit Facility includes financial covenants, to be tested quarterly on a consolidated basis, requiring First Majestic to maintain the following: (a) a leverage ratio based on total debt to rolling four quarters adjusted EBITDA of not more than 3.00 to 1.00; (b) an interest coverage ratio, based on rolling four quarters adjusted EBITDA divided by interest payments, of not less than 4.00 to 1.00; and (c) tangible net worth of not less than $563.5 million plus 50% of its positive earnings subsequent to June 30, 2018. The debt facilities also provide for negative covenants customary for these types of facilities and allows the Company to enter into finance leases up to $30.0 million. As at December 31, 2020 and December 31, 2019, the Company was in compliance with these covenants.

Note 20 - Lease Liabilities (De

Note 20 - Lease Liabilities (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2019USD ($)
Equipment Financing [member]
Statement Line Items [Line Items]
Proceeds from equipment financing obligations		$ 7.9
Borrowings, adjustment to interest rate basis		4.60%
Property, plant and equipment, pledged as security	$ 1.9		$ 3.3
Bottom of range [member]
Statement Line Items [Line Items]
Finance leases term (Month)	2 years
Operating leases remaning lease term (Year)	1 year
Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16	12.40%
Bottom of range [member] | Equipment Financing [member]
Statement Line Items [Line Items]
Quarterly lease terms		12
Top of range [member]
Statement Line Items [Line Items]
Finance leases term (Month)	4 years
Operating leases remaning lease term (Year)	10 years
Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16	5.80%
Top of range [member] | Equipment Financing [member]
Statement Line Items [Line Items]
Quarterly lease terms		16

Note 20 - Lease Liabilities - M

Note 20 - Lease Liabilities - Movement in Lease Liabilities (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Balance		$ 21,936	$ 5,847
Initial adoption of IFRS 16			3,682
Additions		2,494	14,706
Remeasurements		2,779	1,918
Finance costs		1,479	1,142
Repayments of principal		(7,706)	(5,213)
Payments of finance costs		(126)	(397)
Foreign exchange loss		(281)	251
Balance		20,575	21,936
Current portion of lease liabilities		5,358	6,920
Non-current portion of lease liabilities		15,217	15,016
Finance leases [member]
Statement Line Items [Line Items]
Balance	[1]	50	409
Initial adoption of IFRS 16	[1]
Additions	[1]
Remeasurements	[1]
Finance costs	[1]		18
Repayments of principal	[1]	(50)	(359)
Payments of finance costs	[1]		(18)
Foreign exchange loss	[1]
Balance	[1]		50
Current portion of lease liabilities	[1]		50
Non-current portion of lease liabilities	[1]
Operating leases [member]
Statement Line Items [Line Items]
Balance	[2]	18,951
Initial adoption of IFRS 16	[2]		3,682
Additions	[2]	2,494	14,706
Remeasurements	[2]	2,779	1,918
Finance costs	[2]	1,396	789
Repayments of principal	[2]	(5,353)	(2,395)
Payments of finance costs	[2]
Foreign exchange loss	[2]	(281)	251
Balance	[2]	19,986	18,951
Current portion of lease liabilities	[2]	4,820	4,518
Non-current portion of lease liabilities	[2]	15,166	14,433
Equipment Financing [member]
Statement Line Items [Line Items]
Balance	[3]	2,935	5,438
Initial adoption of IFRS 16	[3]
Additions	[3]
Remeasurements	[3]
Finance costs	[3]	83	335
Repayments of principal	[3]	(2,303)	(2,459)
Payments of finance costs	[3]	(126)	(379)
Foreign exchange loss	[3]
Balance	[3]	589	2,935
Current portion of lease liabilities	[3]	538	2,352
Non-current portion of lease liabilities	[3]	$ 51	$ 583
[1]	From time to time, the Company may purchase equipment under finance leases with terms ranging from 24 to 48 months. As at December 31, 2020, the Company has fully repaid all of its finance leases and all pledges on related property, plant and equipment have been released.
[2]	Operating leases primarily relate to equipment and building rental contracts, land easement contracts and service contracts that contain embedded leases for property, plant and equipment. These operating leases have remaining lease terms of one to ten years, some of which include options to terminate the leases within a year, with incremental borrowing rates ranging from 5.8% to 12.4%. During the year ended December 31, 2020 and 2019, the amounts of lease payments recognized in the profit and loss are summarized as follows: Year Ended December 31, 2020 Year Ended December 31, 2019 Expenses relating to variable lease payments not included in the measurement of lease liability $ 25,560 $ 14,241 Expenses relating to short-term leases 19,607 42,994 Expenses relating to low value leases 81 — $ 45,248 $ 57,235
[3]	During 2017, the Company entered into a $7.9 million credit facility with repayment terms ranging from 12 to 16 equal quarterly installments in principal plus related interest. The facility bears an interest rate of LIBOR plus 4.60%. Proceeds from the equipment financing were primarily used for the purchase and rehabilitation of property, plant and equipment. The equipment financing is secured by certain equipment of the Company and is subject to various covenants, including the requirement for First Majestic to maintain a leverage ratio based on total debt to rolling four quarters adjusted EBITDA. As at December 31, 2020 and year ended December 31, 2019, the Company was in compliance with these covenants. As at December 31, 2020, the net book value of property, plant and equipment includes $1.9 million (2019 - $3.3 million) of equipment pledged as security for the equipment financing.

Note 20 - Lease Liabilities - L

Note 20 - Lease Liabilities - Lease Payments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Expenses relating to variable lease payments not included in the measurement of lease liability	$ 25,560	$ 14,241
Expenses relating to short-term leases	19,607	42,994
Expenses relating to low value leases	81
Lease payments recognized in profit and loss	$ 45,248	$ 57,235

Note 21 - Decommissioning Lia_3

Note 21 - Decommissioning Liabilities (Details Textual)	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Historical inflation rate	3.90%	4.00%
Bottom of range [member]
Statement Line Items [Line Items]
Discount rate used in current estimate of value in use	5.00%	6.60%
Top of range [member]
Statement Line Items [Line Items]
Discount rate used in current estimate of value in use	5.30%	6.80%

Note 21 - Decommissioning Lia_4

Note 21 - Decommissioning Liabilities - Disclosure of Detailed Information About Decommissioning Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Beginning decommissioning liabilities	$ 40,528	$ 27,796
Change in rehabilitation provision	10,885	9,538
Reclamation costs incurred	(156)	(104)
Interest or accretion expense	2,362	2,410
Foreign exchange loss	(1,995)	888
Disposition of exploration project	(153)
Ending decommissioning liabilities	51,471	40,528
Mexico - San Dimas [member]
Statement Line Items [Line Items]
Beginning decommissioning liabilities	9,442	8,412
Change in rehabilitation provision	4,527	301
Reclamation costs incurred
Interest or accretion expense	565	744
Foreign exchange loss	(476)	(15)
Disposition of exploration project
Ending decommissioning liabilities	14,059	9,442
Mexico - Santa Elena [member]
Statement Line Items [Line Items]
Beginning decommissioning liabilities	4,971	2,321
Change in rehabilitation provision	1,191	2,338
Reclamation costs incurred	(55)
Interest or accretion expense	295	207
Foreign exchange loss	(252)	105
Disposition of exploration project
Ending decommissioning liabilities	6,150	4,971
Mexico - La Encantada [member]
Statement Line Items [Line Items]
Beginning decommissioning liabilities	8,112	6,709
Change in rehabilitation provision	2,049	500
Reclamation costs incurred
Interest or accretion expense	477	592
Foreign exchange loss	(415)	311
Disposition of exploration project
Ending decommissioning liabilities	10,223	8,112
Mexico - San Martin [member]
Statement Line Items [Line Items]
Beginning decommissioning liabilities	7,103	2,694
Change in rehabilitation provision	1,240	4,051
Reclamation costs incurred	(81)
Interest or accretion expense	418	237
Foreign exchange loss	(359)	121
Disposition of exploration project
Ending decommissioning liabilities	8,321	7,103
Mexico - La Parrilla [member]
Statement Line Items [Line Items]
Beginning decommissioning liabilities	4,337	3,245
Change in rehabilitation provision	830	696
Reclamation costs incurred	(20)
Interest or accretion expense	259	282
Foreign exchange loss	(216)	114
Disposition of exploration project
Ending decommissioning liabilities	5,190	4,337
Mexico - Del Toro [member]
Statement Line Items [Line Items]
Beginning decommissioning liabilities	3,769	2,498
Change in rehabilitation provision	772	945
Reclamation costs incurred
Interest or accretion expense	226	219
Foreign exchange loss	(190)	107
Disposition of exploration project
Ending decommissioning liabilities	4,577	3,769
Mexico - La Guitarra [member]
Statement Line Items [Line Items]
Beginning decommissioning liabilities	2,178	1,615
Change in rehabilitation provision	217	469
Reclamation costs incurred		(104)
Interest or accretion expense	122	129
Foreign exchange loss	(86)	69
Disposition of exploration project	(153)
Ending decommissioning liabilities	2,278	2,178
La Luz [member]
Statement Line Items [Line Items]
Beginning decommissioning liabilities	616	302
Change in rehabilitation provision	59	238
Reclamation costs incurred
Interest or accretion expense
Foreign exchange loss	(2)	76
Disposition of exploration project
Ending decommissioning liabilities	$ 673	$ 616

Note 22 - Income Taxes (Details

Note 22 - Income Taxes (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Net deferred tax assets	$ 69,644	$ 51,141
Entities that have had a loss for tax purposes in either 2016 or 2015, or both [member]
Statement Line Items [Line Items]
Net deferred tax assets	69,600	51,100
Deductible temporary differences for which no deferred tax asset is recognised	$ 236,500	$ 379,300

Note 22 - Income Taxes - Disclo

Note 22 - Income Taxes - Disclosure of Detailed Information About Effective Income Tax Expense Recovery (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Earnings (loss) before tax	$ 29,729	$ (39,024)
Combined statutory tax rate	27.00%	27.00%
Income tax expense (recovery) computed at statutory tax rate	$ 8,027	$ (10,536)
Effect of different foreign statutory tax rates on earnings of subsidiaries	(4,760)	(24,320)
Impact of foreign exchange on deferred income tax assets and liabilities	15,688	(10,194)
Change in unrecognized deferred income tax asset	(4,596)	30,399
Tax effect of mining in Mexico	7,415	(814)
Other non-deductible expenses	758	3,256
Impact of inflationary adjustments	(1,317)	(2,412)
Change in tax provision estimates	10,387	23,987
Impact of divestitures and restructurings	(16,724)
Other	(8,236)	(7,916)
Income tax expense	6,642	1,450
Current income tax expense	9,966	16,423
Deferred income tax recovery	$ (3,324)	$ (14,973)
Effective tax rate	22.00%	(4.00%)

Note 22 - Income Taxes - Disc_2

Note 22 - Income Taxes - Disclosure of Detailed Information About Effective Income Tax Expense Recovery (Details) (Parentheticals)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
7.5% mining royalty in Mexico	7.50%	7.50%

Note 22 - Income Taxes - Income

Note 22 - Income Taxes - Income Tax Receivable and Payable Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Current income tax receivable
Non-current income tax receivable		4,579
Current tax assets		4,579
Current income tax payable	6,574	149
Non-current income tax payable	23,099
Current tax liabilities	$ 29,673	$ 149

Note 22 - Income Taxes - Disc_3

Note 22 - Income Taxes - Disclosure of Deferred Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Deferred tax assets	$ 57,700	$ 70,109
Benefit (expense) to income statement	35,960	(13,403)
Charged to equity		994
Deferred tax assets	93,660	57,700
Deferred tax assets	69,644	51,141
Deferred tax liabilities	48,729	63,916
Losses [member]
Statement Line Items [Line Items]
Deferred tax assets	126,472	118,393
Benefit (expense) to income statement	21,327	8,079
Charged to equity
Deferred tax assets	147,799	126,472
Provisions [member]
Statement Line Items [Line Items]
Deferred tax assets	22,887	16,508
Benefit (expense) to income statement	2,389	6,379
Charged to equity
Deferred tax assets	25,276	22,887
Deferred tax asset not recognized [member]
Statement Line Items [Line Items]
Deferred tax assets	(100,504)	(68,348)
Benefit (expense) to income statement	11,788	(32,156)
Deferred tax assets	(88,716)	(100,504)
Other deferred tax assets [member]
Statement Line Items [Line Items]
Deferred tax assets	8,845	3,556
Benefit (expense) to income statement	456	4,295
Charged to equity		994
Deferred tax assets	9,301	8,845
Property, plant and equipment and mining interests [member]
Statement Line Items [Line Items]
Deferred tax liabilities	33,001	65,382
(Benefit) expense to income statement	23,883	(32,381)
Reclassed to current income taxes payable
Charged to OCI
Divestiture of exploration projects
Deferred tax liabilities	56,884	33,001
Effect of Mexican tax deconsolidation [member]
Statement Line Items [Line Items]
Deferred tax liabilities	4,429	6,744
(Benefit) expense to income statement	(113)	498
Reclassed to current income taxes payable	(2,245)	(2,813)
Charged to OCI
Divestiture of exploration projects
Deferred tax liabilities	2,071	4,429
Non-current portion of income taxes payable [member]
Statement Line Items [Line Items]
Deferred tax liabilities	33,045	37,688
(Benefit) expense to income statement	(18,311)	(4,643)
Reclassed to current income taxes payable
Charged to OCI	1,633
Divestiture of exploration projects	(2,577)
Deferred tax liabilities	13,790	33,045
Other deferred tax liabilities [member]
Statement Line Items [Line Items]
Deferred tax liabilities	70,475	109,814
(Benefit) expense to income statement	5,459	(36,526)
Reclassed to current income taxes payable	(2,245)	(2,813)
Charged to OCI	1,633
Divestiture of exploration projects	(2,577)
Deferred tax liabilities	72,745	70,475
Deferred tax assets	69,644	51,141
Deferred tax liabilities	48,729	63,916
Deferred tax (assets) liabilities	$ (20,915)	$ 12,775

Note 22 - Income Taxes - Disc_4

Note 22 - Income Taxes - Disclosure of Detailed Information About Deferred Tax Assets Expiration (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Non-capital losses	$ 487,478	$ 487,540
Unrecognized losses	199,775	208,253
Canada [member]
Statement Line Items [Line Items]
Non-capital losses	3,141
Unrecognized losses
Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	484,337
Unrecognized losses	199,775
The 2020 expiration year [member]
Statement Line Items [Line Items]
Non-capital losses		544
The 2020 expiration year [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses
The 2020 expiration year [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses
The 2021 expiration year [member]
Statement Line Items [Line Items]
Non-capital losses	3,835	7,825
The 2021 expiration year [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses
The 2021 expiration year [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	3,835
The 2022 expiration year [member]
Statement Line Items [Line Items]
Non-capital losses	3,878	4,060
The 2022 expiration year [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses
The 2022 expiration year [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	3,878
The 2023 expiration year [member]
Statement Line Items [Line Items]
Non-capital losses	2,071	2,213
The 2023 expiration year [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses
The 2023 expiration year [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	2,071
The 2024 expiration year [member]
Statement Line Items [Line Items]
Non-capital losses	34,964	39,319
The 2024 expiration year [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses
The 2024 expiration year [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	34,964
The 2025 expiration year [member]
Statement Line Items [Line Items]
Non-capital losses	38,901	51,911
The 2025 expiration year [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses
The 2025 expiration year [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	38,901
The 2026 expiration year [member]
Statement Line Items [Line Items]
Non-capital losses	104,044	113,630
The 2026 expiration year [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses
The 2026 expiration year [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	104,044
The 2027 expiration year [member]
Statement Line Items [Line Items]
Non-capital losses	21,040	56,760
The 2027 expiration year [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses
The 2027 expiration year [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	21,040
The 2028 expiration year [member]
Statement Line Items [Line Items]
Non-capital losses	57,809	99,315
The 2028 expiration year [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses
The 2028 expiration year [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	57,809
The 2029 expiration year [member]
Statement Line Items [Line Items]
Non-capital losses	68,074	89,754
The 2029 expiration year [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses
The 2029 expiration year [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	68,074
The 2030 and after expiration years [member]
Statement Line Items [Line Items]
Non-capital losses	152,862	$ 22,209
The 2030 and after expiration years [member] | Canada [member]
Statement Line Items [Line Items]
Non-capital losses	3,141
The 2030 and after expiration years [member] | Mexico [member]
Statement Line Items [Line Items]
Non-capital losses	$ 149,721

Note 23 - Share Capital (Detail

Note 23 - Share Capital (Details Textual)		1 Months Ended			12 Months Ended								25 Months Ended
		Sep. 30, 2020USD ($)shares	Sep. 30, 2020CAD ($)$ / sharesshares	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)$ / sharesshares		Dec. 31, 2020CAD ($)shares		Dec. 31, 2019USD ($)$ / sharesshares		Dec. 31, 2019CAD ($)shares		Dec. 31, 2020USD ($)$ / shares	Sep. 30, 2020$ / shares
Statement Line Items [Line Items]
Par value per share (in dollars per share) | $ / shares					$ 0								$ 0
Sale of stock, maximum aggregate gross proceeds				$ 200,000,000
Increase in number of shares outstanding at-the-market distributions (in shares) | shares	[1]				5,654,338		5,654,338		11,172,982		11,172,982
Share issued, price per share (in dollars per share) | (per share)			$ 15.60		$ 12.31				$ 7.55				$ 12.31	$ 11.82
Gross proceeds from issuing shares		$ 59,100,000	$ 78,100,000		$ 69,600,000				$ 84,400,000
Proceeds from issuing shares from ATM program, net					67,892,000				$ 81,916,000				$ 154,000,000
Sale of stock, remaining balance cancelled					$ 46,000,000								46,000,000
Increase in number of shares outstanding from bought deal prospectus offering (in shares) | shares		5,000,000	5,000,000		5,000,000	[2]	5,000,000	[2]		[2]		[2]
Proceeds from issuing shares from bought deal prospectus offering, net		$ 58,200,000			$ 58,240,000	[2]				[2]
Percent of shares reserved for issuance under share based compensation plan					8.00%		8.00%
Maximum term of options granted for share-based payment arrangement (Year)					10 years		10 years
Fair value share options granted					$ 12,100,000				8,500,000
Weighted average fair value at measurement date, share options granted					4.63				3.26				$ 4.63
Expense from share-based payment transactions with employees					$ 8,255,000				$ 8,325,000
Weighted average share price share options exercised							$ 15.61				$ 12.81
Share repurchase program, authorized shares, percentage of shares issued and outstanding					5.00%		5.00%
Decrease in number of shares outstanding, shares repurchased and cancelled (in shares) | shares					275,000		275,000		0		0
Decrease through shares repurchased and cancelled					$ 1,694,000
Vesting on first anniversary [member]
Statement Line Items [Line Items]
Vesting percentage for share-based payment arrangement					25.00%		25.00%
Vesting on each six months thereafter [member]
Statement Line Items [Line Items]
Vesting percentage for share-based payment arrangement					25.00%		25.00%
Stock options [member]
Statement Line Items [Line Items]
Expense from share-based payment transactions with employees					$ 7,000,000				$ 6,500,000
Restricted share units [member]
Statement Line Items [Line Items]
Expense from share-based payment transactions with employees					800,000				1,800,000
Performance share units [member]
Statement Line Items [Line Items]
Expense from share-based payment transactions with employees					$ 500,000				$ 0
Performance share units [member] | Bottom of range [member]
Statement Line Items [Line Items]
Vesting percentage for share-based payment arrangement					0.00%		0.00%
Performance share units [member] | Top of range [member]
Statement Line Items [Line Items]
Vesting percentage for share-based payment arrangement					200.00%		200.00%
Issued capital [member]
Statement Line Items [Line Items]
Increase in number of shares outstanding at-the-market distributions (in shares) | shares					5,654,338		5,654,338		11,172,982		11,172,982
Decrease in number of shares outstanding, shares repurchased and cancelled (in shares) | shares					275,000		275,000
Decrease through shares repurchased and cancelled					$ 1,260,000
[1]	In December 2018, and subsequently amended in August 2019 and June 2020, the Company filed prospectus supplements to its short form base shelf prospectus, pursuant to which the Company may, at its discretion and from time-to-time, sell common shares of the Company for aggregate gross proceeds of up to $200.0 million. The sale of common shares is to be made through "at-the-market distributions" ("ATM"), as defined in the Canadian Securities Administrators' National Instrument 44-102 Shelf Distributions, directly on the New York Stock Exchange. During the year ended December 31, 2020, First Majestic sold 5,654,338 common shares ( December 31, 2019 - 11,172,982 common shares) of the Company under the ATM program at an average price of $12.31 (2019 - $7.55) for gross proceeds of $69.6 million ( December 31, 2019 - $84.4 million), or net proceeds of $67.9 million ( December 31, 2019 - $81.9 million) after costs. At December 31, 2020, the Company completed $154.0 million of the ATM program and the remaining $46.0 million balance of the program has been cancelled.
[2]	In September 2020, the Company completed a bought deal prospectus offering to sell 5,000,000 common shares at a price of $11.82 (CAD$15.60) per common share for gross proceeds of $59.1 million (CAD$78.1 million), or net proceeds of $58.2 million after costs.

Note 23 - Share Capital - Autho

Note 23 - Share Capital - Authorized and Issued Capital (Details) - USD ($)		1 Months Ended	12 Months Ended				25 Months Ended
		Sep. 30, 2020	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2020
Statement Line Items [Line Items]
Number of Shares (in shares)	[1]		5,654,338		11,172,982
Net Proceeds			$ 67,892,000		$ 81,916,000		$ 154,000,000
Number of Shares (in shares)		5,000,000	5,000,000	[2]		[2]
Net Proceeds		$ 58,200,000	$ 58,240,000	[2]		[2]
Number of Shares (in shares)			10,654,338		11,172,982
Net Proceeds			$ 126,132,000		$ 81,916,000
[1]	In December 2018, and subsequently amended in August 2019 and June 2020, the Company filed prospectus supplements to its short form base shelf prospectus, pursuant to which the Company may, at its discretion and from time-to-time, sell common shares of the Company for aggregate gross proceeds of up to $200.0 million. The sale of common shares is to be made through "at-the-market distributions" ("ATM"), as defined in the Canadian Securities Administrators' National Instrument 44-102 Shelf Distributions, directly on the New York Stock Exchange. During the year ended December 31, 2020, First Majestic sold 5,654,338 common shares ( December 31, 2019 - 11,172,982 common shares) of the Company under the ATM program at an average price of $12.31 (2019 - $7.55) for gross proceeds of $69.6 million ( December 31, 2019 - $84.4 million), or net proceeds of $67.9 million ( December 31, 2019 - $81.9 million) after costs. At December 31, 2020, the Company completed $154.0 million of the ATM program and the remaining $46.0 million balance of the program has been cancelled.
[2]	In September 2020, the Company completed a bought deal prospectus offering to sell 5,000,000 common shares at a price of $11.82 (CAD$15.60) per common share for gross proceeds of $59.1 million (CAD$78.1 million), or net proceeds of $58.2 million after costs.

Note 23 - Share Capital - Discl

Note 23 - Share Capital - Disclosure of Range of Exercise Prices of Outstanding Share Options (Details)	12 Months Ended
	Dec. 31, 2020$ / shares	Dec. 31, 2019$ / shares	Dec. 31, 2018$ / shares
Statement Line Items [Line Items]
Number of options outstanding in share-based payment arrangement	7,074,092	7,583,439	9,266,098
Weighted average exercise price of share options outstanding in share-based payment arrangement (in dollars per share)	$ 12.07	$ 10.70	$ 10.76
Weighted average remaining contractual life of outstanding share options (Year)	6 years 98 days
Options Exercisable Number of Options	3,418,709
Weighted average exercise price of share options exercisable in share-based payment arrangement (in dollars per share)	$ 12.15
Options Exercisable Weighted Average Remaining Life (Year)	3 years 215 days
Range 1 [member]
Statement Line Items [Line Items]
Number of options outstanding in share-based payment arrangement	2,821,206
Weighted average exercise price of share options outstanding in share-based payment arrangement (in dollars per share)	$ 8.60
Weighted average remaining contractual life of outstanding share options (Year)	7 years 255 days
Options Exercisable Number of Options	1,323,015
Weighted average exercise price of share options exercisable in share-based payment arrangement (in dollars per share)	$ 8.67
Options Exercisable Weighted Average Remaining Life (Year)	7 years 25 days
Range 2 [member]
Statement Line Items [Line Items]
Number of options outstanding in share-based payment arrangement	3,276,063
Weighted average exercise price of share options outstanding in share-based payment arrangement (in dollars per share)	$ 12.23
Weighted average remaining contractual life of outstanding share options (Year)	4 years 350 days
Options Exercisable Number of Options	1,833,567
Weighted average exercise price of share options exercisable in share-based payment arrangement (in dollars per share)	$ 11.12
Options Exercisable Weighted Average Remaining Life (Year)	1 year 167 days
Range 3 [member]
Statement Line Items [Line Items]
Number of options outstanding in share-based payment arrangement	831,928
Weighted average exercise price of share options outstanding in share-based payment arrangement (in dollars per share)	$ 15.95
Weighted average remaining contractual life of outstanding share options (Year)	7 years 215 days
Options Exercisable Number of Options	117,232
Weighted average exercise price of share options exercisable in share-based payment arrangement (in dollars per share)	$ 16.04
Options Exercisable Weighted Average Remaining Life (Year)	1 year 51 days
Range 4 [member]
Statement Line Items [Line Items]
Number of options outstanding in share-based payment arrangement	144,895
Weighted average exercise price of share options outstanding in share-based payment arrangement (in dollars per share)	$ 53.85
Weighted average remaining contractual life of outstanding share options (Year)	248 days
Options Exercisable Number of Options	144,895
Weighted average exercise price of share options exercisable in share-based payment arrangement (in dollars per share)	$ 53.85
Options Exercisable Weighted Average Remaining Life (Year)	248 days
Bottom of range [member] | Range 1 [member]
Statement Line Items [Line Items]
Exercise price of outstanding share options (in dollars per share)	$ 4.80
Bottom of range [member] | Range 2 [member]
Statement Line Items [Line Items]
Exercise price of outstanding share options (in dollars per share)	10.01
Bottom of range [member] | Range 3 [member]
Statement Line Items [Line Items]
Exercise price of outstanding share options (in dollars per share)	15.01
Bottom of range [member] | Range 4 [member]
Statement Line Items [Line Items]
Exercise price of outstanding share options (in dollars per share)	20.01
Top of range [member] | Range 1 [member]
Statement Line Items [Line Items]
Exercise price of outstanding share options (in dollars per share)	10
Top of range [member] | Range 2 [member]
Statement Line Items [Line Items]
Exercise price of outstanding share options (in dollars per share)	15
Top of range [member] | Range 3 [member]
Statement Line Items [Line Items]
Exercise price of outstanding share options (in dollars per share)	20
Top of range [member] | Range 4 [member]
Statement Line Items [Line Items]
Exercise price of outstanding share options (in dollars per share)	$ 126.01

Note 23 - Share Capital - Dis_2

Note 23 - Share Capital - Disclosure of Number and Weighted Average Exercise Prices of Share Options (Details)	12 Months Ended
	Dec. 31, 2020$ / shares	Dec. 31, 2019$ / shares
Statement Line Items [Line Items]
Balance, beginning of the year	7,583,439	9,266,098
Balance, beginning of the year, weighted average exercise price (in dollars per share)	$ 10.70	$ 10.76
Granted	2,621,924	2,601,680
Granted, weighted average exercise price (in dollars per share)	$ 13.46	$ 8.83
Exercised	(2,473,926)	(2,918,518)
Exercised, weighted average exercise price (in dollars per share)	$ 7.50	$ 7.54
Cancelled or expired	(657,345)	(1,365,821)
Cancelled or expired, weighted average exercise price (in dollars per share)	$ 18.96	$ 14.31
Balance, end of the year	7,074,092	7,583,439
Balance, end of the year, weighted average exercise price (in dollars per share)	$ 12.07	$ 10.70

Note 23 - Share Capital - Dis_3

Note 23 - Share Capital - Disclosure of Detailed Information About Options, Valuation Assumptions (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Risk-free interest rate (%)	1.03%	2.01%
Expected life (years)	5.83	5.8
Expected volatility (%)	49.00%	51.29%
Expected dividend yield (%)

Note 23 - Share Capital - Dis_4

Note 23 - Share Capital - Disclosure of Number and Weighted Average Exercise Prices of Other Equity Instruments (Details)	12 Months Ended
	Dec. 31, 2020$ / shares	Dec. 31, 2019$ / shares
Restricted share units [member]
Statement Line Items [Line Items]
Outstanding, beginning of the year, number of shares	128,944
Outstanding, beginning of the year, weighted average fair value (in dollars per share)	$ 10.36
Granted, number of shares	211,192	274,520
Granted, weighted average fair value (in dollars per share)	$ 15.72	$ 9.67
Settled, number of shares	(127,000)	(145,576)
Settled, weighted average fair value (in dollars per share)	$ 10.32	$ 9.06
Forfeited, number of shares	(28,653)
Forfeited, weighted average fair value (in dollars per share)	$ 15.93
Outstanding, end of the year, number of shares	184,483	128,944
Outstanding, end of the year, weighted average fair value (in dollars per share)	$ 15.66	$ 10.36
Performance share units [member]
Statement Line Items [Line Items]
Outstanding, beginning of the year, number of shares
Outstanding, beginning of the year, weighted average fair value (in dollars per share)
Granted, number of shares	122,575
Granted, weighted average fair value (in dollars per share)	$ 15.65
Forfeited, number of shares	(13,540)
Forfeited, weighted average fair value (in dollars per share)	$ (15.93)
Outstanding, end of the year, number of shares	109,035
Outstanding, end of the year, weighted average fair value (in dollars per share)	$ 19.57

Note 24 - Financial Instrumen_3

Note 24 - Financial Instruments and Related Risk Management (Details Textual) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Value added tax receivables		$ 56,900	$ 29,600
Current value added tax receivables	[1]	41,641	29,637
Working capital		254,400	171,100
Available liquidity		319,400
Available liquidity, undrawn revolving credit facility		65,000
Realised foreign exchange gains (losses) on fair value adjustments to foreign currency derivatives		(11,500)	(2,100)
Unrealised foreign exchange gains (losses) on fair value adjustments to foreign currency derivatives		(900)	1,000
Derivative financial assets			982
Market risk [member]
Statement Line Items [Line Items]
Interest Rate Risk Sensitivity		0.25%
Foreign currency derivatives [member]
Statement Line Items [Line Items]
Derivative financial assets		$ 0	900
Mexico [member]
Statement Line Items [Line Items]
Non-current value added tax receivables		15,300
Primero Empresa Minera, S.A de C.V. [Member]
Statement Line Items [Line Items]
Current value added tax receivables		$ 37,900	$ 14,200
[1]	Equity component of convertible debenture reserve represents the estimated fair value of its conversion option of $26.3 million, net of deferred tax effect of $7.1 million. This amount is not subsequently remeasured and will remain in equity until the conversion option is exercised, in which case, the balance recognized in equity will be transferred to share capital. Where the conversion option remains unexercised at the maturity date of the convertible note, the balance will remain in equity reserves.

Note 24 - Financial Instrumen_4

Note 24 - Financial Instruments and Related Risk Management - Disclosure of Detailed Information About Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Other financial assets	$ 36,319	$ 7,488
Foreign currency derivatives (Note 24)		982
Foreign currency derivatives [member]
Statement Line Items [Line Items]
Foreign currency derivatives (Note 24)	0	900
Carrying value [member]
Statement Line Items [Line Items]
Trade receivables		1,182
Other financial assets	36,319	6,506
Carrying value [member] | Foreign currency derivatives [member]
Statement Line Items [Line Items]
Foreign currency derivatives (Note 24)		982
Level 1 of fair value hierarchy [member]
Statement Line Items [Line Items]
Trade receivables
Other financial assets	30,996	6,506
Level 1 of fair value hierarchy [member] | Foreign currency derivatives [member]
Statement Line Items [Line Items]
Foreign currency derivatives (Note 24)		982
Level 2 of fair value hierarchy [member]
Statement Line Items [Line Items]
Trade receivables		1,182
Other financial assets	5,323
Level 2 of fair value hierarchy [member] | Foreign currency derivatives [member]
Statement Line Items [Line Items]
Foreign currency derivatives (Note 24)

Note 24 - Financial Instrumen_5

Note 24 - Financial Instruments and Related Risk Management - Disclosure of Detailed Information About Capital Risk Management (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Line Items [Line Items]
Equity	$ 850,236	$ 662,321	$ 594,573
Debt facilities	152,708	155,818
Lease liabilities	20,575	21,936	5,847
Less: cash and cash equivalents	(238,578)	(169,009)	$ (57,013)
Capital	$ 784,941	$ 671,066

Note 24 - Financial Instrumen_6

Note 24 - Financial Instruments and Related Risk Management - Disclosure of Financial Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Line Items [Line Items]
Trade and other payables	$ 76,002	$ 59,123
Debt facilities	152,708	155,818
Lease liabilities	20,575	21,936	$ 5,847
Other liabilities	5,406	$ 4,675
Total financial liabilities	254,691
Contractual cash flows [member]
Statement Line Items [Line Items]
Trade and other payables	76,002
Debt facilities	174,082
Lease liabilities	16,520
Other liabilities	5,406
Total financial liabilities	272,010
Less than 1 year [member]
Statement Line Items [Line Items]
Trade and other payables	76,002
Debt facilities	13,180
Lease liabilities	4,557
Other liabilities
Total financial liabilities	93,739
From 1 to 3 years [member]
Statement Line Items [Line Items]
Trade and other payables
Debt facilities	160,902
Lease liabilities	6,562
Other liabilities
Total financial liabilities	167,464
From 4 to 5 years [member]
Statement Line Items [Line Items]
Trade and other payables
Debt facilities
Lease liabilities	4,692
Other liabilities
Total financial liabilities	4,692
After 5 years [member]
Statement Line Items [Line Items]
Trade and other payables
Debt facilities
Lease liabilities	709
Other liabilities	5,406
Total financial liabilities	$ 6,115

Note 24 - Financial Instrumen_7

Note 24 - Financial Instruments and Related Risk Management - Disclosure of Detailed Information About Currency Risk (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Line Items [Line Items]
Cash and cash equivalents		$ 238,578	$ 169,009	$ 57,013
Trade and other receivables		4,271	4,295
Value added taxes receivable	[1]	41,641	29,637
Other financial assets		36,319	7,488
Trade and other payables		(76,002)	(59,123)
Foreign currency derivatives (Note 24)			$ 982
Canada, Dollars
Statement Line Items [Line Items]
Cash and cash equivalents		75,958
Trade and other receivables		74
Value added taxes receivable
Other financial assets		10,140
Trade and other payables		(3,133)
Foreign currency derivatives (Note 24)		83,039
Net assets (liabilities) exposure		8,304
Mexico, Pesos
Statement Line Items [Line Items]
Cash and cash equivalents		8,369
Trade and other receivables
Value added taxes receivable		53,201
Other financial assets
Trade and other payables		(42,763)
Foreign currency derivatives (Note 24)		18,807
Net assets (liabilities) exposure		1,881
Amounts in foreign currencies [member]
Statement Line Items [Line Items]
Cash and cash equivalents		84,327
Trade and other receivables		74
Value added taxes receivable		53,201
Other financial assets		10,140
Trade and other payables		(45,896)
Foreign currency derivatives (Note 24)		101,846
Net assets (liabilities) exposure		$ 10,185
[1]	Equity component of convertible debenture reserve represents the estimated fair value of its conversion option of $26.3 million, net of deferred tax effect of $7.1 million. This amount is not subsequently remeasured and will remain in equity until the conversion option is exercised, in which case, the balance recognized in equity will be transferred to share capital. Where the conversion option remains unexercised at the maturity date of the convertible note, the balance will remain in equity reserves.

Note 24 - Financial Instrumen_8

Note 24 - Financial Instruments and Related Risk Management - Disclosure of Detailed Information About Price Risk (Details) - Commodity price risk [member] $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Silver [member]
Statement Line Items [Line Items]
Effect of a 10% change in metal prices	$ 104
Silver [member] | Metals in dore and concentrates inventory [member]
Statement Line Items [Line Items]
Effect of a 10% change in metal prices	104
Gold [member]
Statement Line Items [Line Items]
Effect of a 10% change in metal prices	226
Gold [member] | Metals in dore and concentrates inventory [member]
Statement Line Items [Line Items]
Effect of a 10% change in metal prices	226
Lead [member]
Statement Line Items [Line Items]
Effect of a 10% change in metal prices	330
Lead [member] | Metals in dore and concentrates inventory [member]
Statement Line Items [Line Items]
Effect of a 10% change in metal prices	$ 330

Note 25 - Supplemental Cash F_3

Note 25 - Supplemental Cash Flow Information (Details Textual) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Cash and cash equivalents held in trust as bonds for tax audits	$ 6.4	$ 5.2

Note 25 - Supplemental Cash F_4

Note 25 - Supplemental Cash Flow Information - Disclosure of Detailed Information About Supplemental Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Purchase of marketable securities	$ (1,522)
Proceeds from disposal of marketable securities	664	867
Cash received on settlement of derivatives	2,079	2,555
Other inflows (outflows) of cash	1,221	3,422
Decrease in trade and other receivables	24	1,304
(Increase) decrease in value added taxes receivable	(27,525)	30,028
(Increase) decrease in inventories	(4,288)	2,829
(Increase) decrease in prepaid expenses and other	(692)	776
Decrease in income taxes payable	(1,115)	(6,569)
Increase in trade and other payables	10,765	8,959
Increase (decrease) in working capital	(22,831)	37,327
Transfer of share-based payments reserve upon settlement of RSUs	992	988
Transfer of share-based payments reserve upon exercise of options	5,903	5,986
Acquisition of mining interests	$ (8,179)

Note 26 - Contingencies and O_2

Note 26 - Contingencies and Other Matters (Details Textual) $ in Millions, $ in Millions, $ in Millions	1 Months Ended			12 Months Ended
	Jun. 30, 2013USD ($)	Apr. 30, 2013USD ($)	Aug. 31, 2010	Dec. 31, 2020USD ($)	Dec. 31, 2020MXN ($)	Dec. 31, 2020CAD ($)	Jun. 30, 2013CAD ($)
Statement Line Items [Line Items]
Gains on litigation settlements		$ 93.8
Proceeds from litigation settlement	$ 14.1
Estimated financial effect of contingent assets	$ 62.8			$ 64.2		$ 81.5	$ 81.5
Minera La Encantada, S.A. de C.V. [member]
Statement Line Items [Line Items]
Tax assessments by SAT related to audits of 2012 tax return				7.8
Tax assessments by SAT related to audits of 2013 tax return				$ 6.3
Mexico - San Dimas [member] | Wheaton Precious Metals International Ltd. [member]
Statement Line Items [Line Items]
Percent of silver production required to be sold			100.00%	50.00%	50.00%
Maximum silver production required to be sold				6,000,000	6,000,000
Silver, selling price, per ounce				4.04	4.04
Purchase agreement, annual inflation increase, percent				1.00%	1.00%
Potential incremental income tax before interest and penalties				$ 219.2	$ 4,373
Potential incremental income tax liabilities inclusive interest and penalties				$ 246.6	$ 4,919

Note 27 - Subsidiaries - Disclo

Note 27 - Subsidiaries - Disclosure of Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
First Majestic Silver Corp. [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Corporacion First Majestic, S.A. de C.V [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Primero Empresa Minera, S.A de C.V. [Member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Nusantara de Mexico, S.A. de C.V. [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Minera La Encantada, S.A. de C.V. [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
First Majestic Plata, S.A. de C.V. [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Minera El Pilon, S.A. de C.V. [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
First Majestic Del Toro, S.A. de C.V. [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
La Guitarra Compania Minera, S.A. de C.V. [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
Majestic Services, S.A. de C.V. [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
FM Metal Trading (Barbados) Ltd [Member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%
FMS Trading AG [member]
Statement Line Items [Line Items]
Proportion of ownership interest in subsidiary	100.00%	100.00%

Note 28 - Key Management Comp_3

Note 28 - Key Management Compensation - Disclosure of Information About Key Management Personnel (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Key management personnel compensation	$ 7,788	$ 8,471
Independent members of the board of directors [member]
Statement Line Items [Line Items]
Salaries, bonuses, fees and benefits	803	790
Share-based payments	402	439
Other members of key management [member]
Statement Line Items [Line Items]
Salaries, bonuses, fees and benefits	3,937	4,267
Share-based payments	$ 2,646	$ 2,975

Note 29 - Subsequent Events (De

Note 29 - Subsequent Events (Details Textual) - USD ($)	Jan. 21, 2021	Jul. 02, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Line Items [Line Items]
Purchase of mining assets				$ 68,647,000	$ 76,983,000
Springpole silver stream [member]
Statement Line Items [Line Items]
Acquisition of mining interest, consideration transferred		$ 10,000,000
Purchase of mining assets		$ 2,500,000
Acquisition of mining interest, shares issued (in shares)		805,698
Acquisition of the Springpole Stream [member] | Springpole silver stream [member]
Statement Line Items [Line Items]
Acquisition of mining interest, consideration transferred	$ 7,500,000
Purchase of mining assets	$ 3,750,000		$ 2,500,000
Acquisition of mining interest, shares issued (in shares)	287,300