Van Eck Reports 7.53M MAG Shares; Sole Voting Power on Majority

Rhea-AI Filing Summary

Van Eck Associates Corporation reports beneficial ownership of 7,533,470 shares of MAG Silver Corp common stock, representing 7.29% of the class, on a Schedule 13G/A. The filing shows sole voting power over 7,503,911 shares and sole dispositive power over 7,533,470 shares, indicating Van Eck can both vote and direct the sale of the shares it holds.

The Schedule 13G/A classification and the included certification state these shares are held in the ordinary course of business and not to influence control of the issuer. Items identifying group members or subsidiary acquisitions are marked not applicable.

Positive

• Beneficial ownership exceeds 5%, with 7,533,470 shares (7.29% of class), a material disclosure for investors
• Sole dispositive and voting power reported over the majority of the shares held, clarifying Van Eck's ability to vote and dispose of the position

Negative

• None.

Insights

Financial Analyst

TL;DR Van Eck holds a meaningful passive stake (7.29%) in MAG Silver with sole voting and dispositive power over most shares held.

The filing discloses a beneficial position of 7,533,470 shares, exceeding the 5% disclosure threshold that makes the holding material to investors. The use of Schedule 13G/A rather than 13D suggests a passive intent; the filer certifies the securities are not held to influence control. For analysts, the key metrics are the 7.29% ownership and near-complete sole voting power, which could affect proxy dynamics if the position changes from passive to active.

Corporate Governance Expert

TL;DR A >5% passive stake with sole voting power is material for governance monitoring but indicates no declared intent to seek control.

From a governance perspective, the disclosure of 7,503,911 shares with sole voting power and a total beneficial holding of 7,533,470 is significant because it places Van Eck among the larger shareholders. The Schedule 13G/A and certification explicitly state the position is in the ordinary course of business and not for control purposes, which differentiates it from activist 13D filings. Continued monitoring is warranted if subsequent amendments show increases or changes in intent.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

MAG SILVER CORP

(Name of Issuer)

Common Stock

(Title of Class of Securities)

55903Q104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 55903Q104

1

Names of Reporting Persons

VAN ECK ASSOCIATES CORP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,503,911.00
6	Shared Voting Power
7	Sole Dispositive Power 7,533,470.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,533,470.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.29 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MAG SILVER CORP
(b)	Address of issuer's principal executive offices: #801 - 815 HASTINGS ST. W., VANCOUVER, British Columbia, Canada, V6C 1B4
Item 2.
(a)	Name of person filing: Van Eck Associates Corporation
(b)	Address or principal business office or, if none, residence: 666 Third Ave, 9th Floor, New York NY 10017
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 55903Q104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 7,533,470
(b)	Percent of class: 7.29 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 7,503,911
	(ii) Shared power to vote or to direct the vote:
	(iii) Sole power to dispose or to direct the disposition of: 7,533,470
	(iv) Shared power to dispose or to direct the disposition of:
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

VAN ECK ASSOCIATES CORP

Signature:	Ashley Sousa
Name/Title:	Ashley Sousa, AVP, Van Eck Associates Corporation
Date:	08/14/2025

FAQ

How many MAG (MAG) shares does Van Eck own?

Van Eck beneficially owns 7,533,470 shares of MAG Silver common stock.

What percentage of MAG does Van Eck hold?

The filing reports a 7.29% ownership stake in the outstanding class of MAG common stock.

Does Van Eck have voting control over its MAG shares?

Yes. The filing shows sole voting power over 7,503,911 shares.

Is this filing a Schedule 13G or 13D and what does that mean?

This is a Schedule 13G/A, which indicates the filer reports the stake as held in the ordinary course and not intended to influence control.

Did the filing identify any group members or subsidiaries acquiring the securities?

No. Items identifying groups or subsidiaries are marked Not Applicable in the filing.