Mag Silver Stock Price, News & Analysis

MAG Silver Corp. reported its financial results for the year ended December 31, 2020, highlighting a net loss of $7,097 and a working capital of $94,513. The company's Juanicipio project processed 71,859 tonnes of mineralized material, producing 616,341 ounces of payable silver.

Sales totaled $15,335, leading to a gross profit of $11,462 during the period. Construction of the Juanicipio plant is ongoing, with commissioning expected in Q4 2021. The company continues to focus on exploration and development despite challenges from COVID-19.

MAG Silver Corp. announced the appointment of Tim Baker to its Board of Directors. With a B.Sc. in Geology and extensive mining experience, Baker has held senior roles at Kinross Gold and Placer Dome. His addition is expected to enhance shareholder value as the Juanicipio project develops into a major silver producer. Baker replaces Rick Clark, who resigned to pursue other professional responsibilities. The Juanicipio project, in partnership with Fresnillo Plc, is advancing towards a 4,000 tonnes per day processing plant, anticipating commissioning in Q4-2021.

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.