Mag Silver Stock Price, News & Analysis

MAG Silver Corp. reports significant growth in first quarter production from the Juanicipio Project. Total mineralized material processed reached 145,484 tonnes, a substantial increase from 36,395 tonnes year-over-year. The output includes 2.4 million silver ounces and 5,837 gold ounces, with MAG's attributable production being 1,056,000 silver ounces and 2,568 gold ounces. The commissioning of the Juanicipio processing plant is expected mid-2022, with plans to ramp up to 85-90% capacity by year-end.

MAG Silver Corp. reported its audited financial results for the year ended December 31, 2021, showcasing significant operational progress. The Juanicipio processing plant is set to commence commissioning in Q2 2022, delayed by regulatory approvals. For 2021, the company processed 251,907 tonnes of mineralized material, generating pre-commercial sales of $75,393 and a gross profit of $60,064. MAG increased campaign processing rates significantly, peaking at 44,963 tonnes per month in early 2022. Additionally, MAG announced a Definitive Arrangement Agreement to acquire Gatling Exploration Inc.

MAG Silver Corp. (MAG) announces the appointment of Fausto Di Trapani as Chief Financial Officer effective May 20, 2022. He will succeed Larry Taddei, who is stepping down after 12 years. Fausto brings over two decades of finance experience in the natural resources sector, having previously held senior roles at BHP Billiton, Norilsk Nickel, and Galiano Gold. MAG's President, George Paspalas, expressed confidence in Fausto's ability to enhance MAG's growth and shareholder value, particularly regarding the Juanicipio Project.

MAG Silver Corp. (TSX / NYSE American: MAG) has announced its acquisition of Gatling Exploration Inc. (TSXV: GTR) through an all-share transaction. Each Gatling shareholder will receive 0.01702627 of a MAG share per Gatling share, valuing Gatling’s shares at C$0.40, a 47.4% premium. The deal allows MAG to advance the Larder Gold Project, enhancing its portfolio in Northern Ontario. The transaction is subject to shareholder approval and is expected to close by late May 2022, with a C$3 million secured convertible bridge loan provided by MAG to Gatling.

MAG Silver Corp. reported strong fourth quarter production results from the Juanicipio Project, processing 113,950 tonnes of mineralized material, leading to total silver production of 1,632,000 ounces and gold production of 3,985 ounces for Q4 2021. MAG's attributable production was 718,080 silver ounces and 1,754 gold ounces. The Juanicipio processing plant's commissioning has been delayed by six months due to power grid tie-in approvals, with operations expected to ramp up by year-end 2022. Increased throughput at Fresnillo-owned plants helped mitigate cash flow impacts during this wait.

The Juanicipio Project, a collaboration between Fresnillo (56%) and MAG Silver (44%), is facing delays in commissioning due to a lack of approvals from the Comisión Federal de Electricidad (CFE) for connecting to the national power grid. Despite successfully managing COVID-19 challenges, the project will now be delayed by approximately six months, impacting the timeline for mill commissioning, which is now expected post-May 2022. However, both companies plan to mitigate cash flow effects by utilizing excess capacity at existing plants.

MAG Silver Corp. has successfully completed a bought deal financing of 2,691,000 common shares at US$17.15 per share, raising approximately US$46.15 million. The proceeds will fund exploration at the Juanicipio project and other initiatives including the Deer Trail project, alongside some sustaining capital requirements. The offering was led by BMO Capital Markets and Raymond James Ltd., with included shares for insiders and full exercise of the over-allotment option.

MAG Silver Corp. has announced a bought deal offering of 2,340,000 common shares at a price of US$17.15 per share, aiming for gross proceeds of approximately US$40 million. The offering is expected to close around November 29, 2021, pending regulatory approvals. Proceeds will fund exploration activities at Juanicipio and other projects, including Deer Trail, and cover certain sustaining capital requirements. An additional 15% of shares may be purchased by underwriters to cover over-allotments.

MAG Silver Corp. (MAG) reported financial results for the three and nine months ended September 30, 2021. The company achieved significant progress on the Juanicipio processing plant, which is expected to be commissioned by year-end. For Q3 2021, MAG's share from its equity investment in Minera Juanicipio resulted in a net income of $1,457, compared to a loss of $126 in the previous year. The total gross profit from processing mineralized material reached $11,207, contributing to a year-to-date gross profit of $28,289. As of September 30, 2021, MAG held cash of $31,707 and is focused on further exploration.