Welcome to our dedicated page for Mag Silver news (Ticker: MAG), a resource for investors and traders seeking the latest updates and insights on Mag Silver stock.
This page provides an archive of news and corporate announcements related to MAG Silver Corp. (MAG), a former Canadian mining and exploration company focused on high-grade, district scale precious metals projects in the Americas. The company’s news flow centered on its 44% joint venture interest in the Juanicipio Mine in Mexico’s Fresnillo Silver Trend, as well as exploration activities at the Deer Trail Project in Utah and the Larder Project in Canada’s Abitibi region.
Readers can review historical operational updates from the Juanicipio Mine, including ore tonnage processed, head grades for silver, gold, lead and zinc, metallurgical recoveries, and production statistics disclosed in MAG’s production and quarterly results releases. The archive also includes exploration updates detailing drilling programs, geophysical surveys and structural interpretations at Deer Trail and Larder, illustrating how MAG advanced its project pipeline.
A significant portion of the more recent news coverage concerns the acquisition of MAG Silver Corp. by Pan American Silver Corp. News releases describe the arrangement agreement, shareholder approval, regulatory clearances, consideration structure for MAG shareholders, and the closing of the transaction. They also outline the expected and actual delisting of MAG shares from the Toronto Stock Exchange and NYSE American, and the subsequent steps toward terminating MAG’s public reporting obligations.
For investors and researchers, this news archive offers context on MAG’s operational performance, exploration strategy and corporate transformation leading up to its 2025 acquisition. It can be useful for understanding the historical development of the Juanicipio Mine and related projects that now form part of Pan American Silver’s asset base.
MAG Silver Corp. (TSX / NYSE American: MAG) has reported production results for Q4 2020 from the Juanicipio Project, a joint venture with Fresnillo. The company processed 30,397 tonnes of development material, yielding 230,000 silver ounces and 443 gold ounces. For the year, total production amounted to 623,000 silver ounces and 1,053 gold ounces. The commissioning of the Juanicipio processing plant is now expected in Q4 2021, delayed due to COVID-19. The ongoing processing at the Fresnillo plant is designed to generate cash flow and de-risk the project ahead of commercial production.
MAG Silver Corp. (MAG) has appointed Jill Neff as the new Corporate Secretary. With over 16 years of corporate governance experience, including 12 years in the mining sector, Neff previously held the same position at Sierra Metals Inc. This strategic addition is expected to enhance MAG's corporate governance and add value for shareholders, according to President and CEO George Paspalas. MAG Silver focuses on becoming a leading primary silver mining company, specifically through the Juanicipio Project in Mexico.
MAG Silver Corp. has announced the appointment of Susan Mathieu to its Board of Directors. With over 25 years of international mining experience, Ms. Mathieu brings extensive knowledge in governance, environmental sustainability, and community relations. Her previous roles include positions at Placer Dome, Falconbridge, and BHP Billiton. Chairman Peter Barnes expressed confidence that her expertise will enhance shareholder value. MAG Silver is focused on advancing high-grade silver projects, primarily the Juanicipio Property, developed in partnership with Fresnillo Plc.
MAG Silver Corp. (MAG) announced its unaudited financial results for Q3 2020, highlighting significant progress at the Juanicipio Project. Initial mine production began in August, yielding 42,476 tonnes processed and generating provisional sales of $9,525. However, a net loss for the quarter was reported at $3,607, reflecting increased expenses. The Juanicipio plant is expected to commission in mid-2021, with construction on track. The company currently has cash and equivalents of $136,045 and has reduced initial capital estimates to $242,573 due to incurred development costs.
MAG Silver Corp. (MAG) announced successful processing of its first development material from the Juanicipio Project at the Fresnillo plant, resulting in 394,000 silver ounces and additional byproducts including gold, lead, and zinc. This milestone is expected to generate cash flow to offset initial project capital. With monthly processing of an average of 16,000 tonnes projected through mid-2021, the Juanicipio beneficiation plant is set for commissioning soon. Progress continues on-site with the construction of both surface and underground infrastructure.
MAG Silver Corp. (MAG) has announced the acquisition of the Deer Trail Carbonate Replacement Deposit project in Utah, consolidating a significant mineral asset comprising 111 patented and 682 unpatented claims. This marks the first consolidation of the properties since the 1980s, allowing for an integrated exploration approach. The Phase I drilling program of 6,500 meters is set to begin in October 2020, aimed at exploring the project's high-grade silver and associated mineralization. MAG's exploration strategy involves advanced technology and historical data to unlock the project's potential.
MAG Silver Corp. has successfully completed its US$50 million at-the-market equity program, issuing 3,092,783 common shares at an average price of US$16.16. The net proceeds of approximately US$48.625 million will primarily fund the construction of the Juanicipio Project, a joint venture with Fresnillo. This project aims for a 4,000 tonnes per day operation within Mexico's Fresnillo Silver Trend. MAG Silver is well-positioned for the project's final stages, enhancing its focus on becoming a leading primary silver mining company.
MAG Silver Corp. (MAG) reported its unaudited financial results for Q2 and H1 2020, highlighting significant developments at the Juanicipio Project. Despite challenges from COVID-19, the project is moving forward, with underground operations expected to commence soon, processing 16,000 tonnes per month. The Juanicipio plant is slated for commissioning in mid-2021. Financially, as of June 30, 2020, MAG's working capital was $87,682, and it recorded a net loss of $13,601 for H1 2020. The company has plans for future equity issuance under its ATM program, having raised approximately $36,239 in net proceeds.