Mag Silver Stock Price, News & Analysis

MAG Silver Corp. announced its unaudited financial results for Q2 2024, reporting a net income of $21,614 ($0.21 per share) mainly because of income from Juanicipio mine amounting to $25,123. The adjusted EBITDA stood at $50,353.

The company processed 336,592 tonnes of ore at a silver head grade of 498 g/t, achieving silver production of 5.0 million ounces and equivalent silver production of 7.1 million ounces. Juanicipio showed robust cash flow with operating cash flow of $92,766 and free cash flow of $88,637.

Full-year guidance has been raised, with expected silver head grades between 420g/t to 460g/t and production estimated at 16.3 million to 17.3 million ounces. The all-in sustaining costs are expected between $8.50 and $9.25 per silver ounce, lower than previous estimates.

The company's liquidity was bolstered by $29,818 in interest and loan principal repayments from Juanicipio, bringing the total liquidity to $97,337 million.

MAG Silver Corp. (TSX / NYSE American: MAG) reports strong Q2 2024 production from Juanicipio, a joint venture with Fresnillo plc. Key highlights include:

- Processed 336,593 tonnes of ore
- Average silver head grade of 498 g/t
- Preliminary production of 5.0 million silver ounces and 9,267 gold ounces
- Commenced commercial production of pyrite concentrate
- Increased 2024 silver head grade guidance to 420-460 g/t

The Q2 performance showcases significant improvements in throughput, grades, and recovery rates compared to Q2 2023. MAG Silver's CEO, George Paspalas, expressed confidence in the company's position for continued growth and long-term success.

MAG Silver Corp. (TSX / NYSE American: MAG) has released its third annual Sustainability Report for 2023, highlighting the company's commitment to environmental, social, and governance (ESG) practices. Key achievements include:

- Development of a Climate Action Management Plan (CAMP)
- Over 110,000 hours of safety training across all sites
- Zero significant environmental incidents at Juanicipio Mine, Deer Trail Project, and Larder Project
- Positive social license at the Deer Trail Project
- 38% female representation on the Board, exceeding the 30% target

The report emphasizes MAG's focus on energy, water, and community relations at the Deer Trail and Larder projects. The company remains committed to optimizing operational efficiencies and advancing exploration initiatives while maintaining transparency with stakeholders.

MAG Silver Corp. (TSX / NYSE American: MAG) has temporarily paused exploration operations at its Deer Trail Project in central Utah due to the Silver King Fire in Piute County. All personnel are safe, and the site is secure. MAG is closely monitoring the situation and adhering to local directives. The company does not anticipate that this temporary pause will have a material impact on its business.

MAG Silver Corp. (MAG) reported the results of its Annual General and Special Meeting (AGSM) held on June 17, 2024. Shareholders approved all eight director nominees, re-appointed Deloitte LLP as auditors, and supported the executive compensation approach. Key voting results included strong shareholder support for directors, with the highest approval at 99.37% for Tim Baker and the lowest at 92.44% for Peter Barnes. The re-appointment of auditors saw a 90.73% approval rate. The executive compensation approach was backed by 97.07% of votes. Outgoing director Dan MacInnis was acknowledged for his 19 years of service.

MAG Silver announced the filing of its final base shelf prospectus with Canadian securities commissions and a corresponding registration statement with the U.S. SEC. This allows MAG Silver to offer up to $250 million in various securities, including common shares, debt securities, and warrants, over a 25-month period. While maintaining financial flexibility, the company currently has no intention to offer securities. Any future offerings will depend on market conditions and will be detailed in a prospectus supplement. The documents are available on SEDAR+ and EDGAR.

MAG Silver Corp. (MAG) announced the planned retirement of Co-Founder and Chief Exploration Officer (CXO), Dr. Peter Megaw, effective May 21, 2024. Dr. Megaw, who has played a important role in the discovery and development of the Juanicipio project and the overall growth of MAG Silver, will transition to a consulting role.

Dr. Megaw's contributions span over 20 years, including seven years on the Board and leading key acquisitions. His expertise will continue to benefit the company in his new consulting capacity, focusing on strategic guidance and advancing projects like the Deer Trail property in Utah.

On May 15, 2024, MAG Silver announced the approval of a Normal Course Issuer Bid (NCIB) by the Toronto Stock Exchange (TSX). The NCIB allows MAG to repurchase up to 8,643,374 common shares, representing about 10% of the public float as of May 8, 2024. This repurchase will be conducted via the TSX, NYSE American, and other trading systems in Canada and the U.S. from May 17, 2024, to May 16, 2025.

The company emphasizes that the NCIB is a strategic move to enhance shareholder value by repurchasing shares at attractive prices. An Automatic Share Purchase Plan (ASPP) will also be implemented to facilitate repurchases during blackout periods. MAG believes this move will benefit shareholders by increasing the proportionate interest for those who retain their shares while enhancing liquidity for sellers.

MAG Silver announced the filing of a preliminary base shelf prospectus with Canadian securities commissions and a corresponding registration statement with the U.S. SEC. This step allows MAG Silver to offer up to USD 250 million in various securities, including common shares, preferred shares, and debt securities, over a 25-month period. The terms and conditions of any offering will be determined based on market conditions at the time of sale and specified in a prospectus supplement. No securities may be sold or offers accepted until the final prospectus receipt and SEC filing are completed.

Copies of the preliminary prospectus are available on SEDAR+ and will be available on EDGAR once filed. This announcement does not constitute an offer to sell or a solicitation to buy any of these securities.