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.
MAG Silver Corp (MAG) is a leading explorer and producer focused on high-grade silver mining projects across the Americas. This page aggregates all official company announcements, press releases, and operational updates for investors tracking precious metals sector developments.
Access timely information on MAG Silver's exploration progress, joint venture milestones, and production results from key assets like the Juanicipio mine. The curated news feed covers earnings reports, resource estimates, leadership updates, and strategic partnerships critical for evaluating the company's performance.
All content is sourced directly from MAG Silver's disclosures and verified third-party coverage. Bookmark this page to monitor Mexico-focused silver mining operations, project expansions, and industry developments through a single authoritative channel.
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.
MAG Silver Corp. announced its Q1 2024 financial results, highlighting strong performance from the Juanicipio project. Key figures include a net income of $14.9M ($0.14 per share) and adjusted EBITDA of $32.4M. The Juanicipio mine processed 325,683 tonnes of ore, producing 4.5M ounces of silver and 6.4M silver equivalent ounces. Operating cash flow was $42.5M, with free cash flow at $27.8M. Mineral resources saw a 33% increase, with the new technical report showing an after-tax NPV of $1.2B. The company also acquired the Goldstake property and continued its Phase 3 drilling at the Deer Trail Project.
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