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 prominent Canadian mining company dedicated to advancing high-grade, district-scale precious metals projects primarily within the Mexican Silver Belt. With a mission to become a leading entity in the silver mining industry, MAG Silver focuses on exploration and development activities across its 100% owned properties in Mexico, including significant silver, lead, zinc, molybdenum, and gold discoveries.
The company's flagship asset is the Juanicipio Mine located in Zacatecas, Mexico. This mine, which is 44% owned by MAG Silver and 56% by Fresnillo plc, has achieved commercial production, processing around 4,000 tonnes of ore per day. The mine generates revenue from the sale of silver, gold, lead, and zinc concentrates.
MAG Silver's Cinco de Mayo property in Chihuahua State has also shown promising results with discoveries of silver, lead, zinc, and molybdenum-gold. Additionally, the company is actively engaged in exploration programs at the Deer Trail Project in Utah and holds interests in the Larder project.
Recent news highlights include MAG Silver's preliminary 2024 guidance for the Juanicipio Mine, which supports an initial 13-year life of mine plan. The company also reported significant improvements in operating cash costs and an increase in production, reflecting a robust financial position.
MAG Silver is committed to responsible mining practices and sustainability, with detailed reconciliations of financial metrics available in their latest reports. The company's strategic partnerships and ongoing exploration efforts underscore its potential for growth and value creation in the precious metals sector.
MAG Silver (TSX / NYSE American: MAG) has appointed John Armstrong to its Board of Directors, effective January 31, 2025, as part of the company's planned Board refreshment initiative. Board Chair Peter Barnes highlighted Armstrong's extensive leadership experience and strong track record in capital markets, strategic planning, and capital allocation. The appointment followed a comprehensive, externally facilitated search process focused on diverse candidates. Armstrong's broad network within the mining sector and familiarity with MAG and Juanicipio were cited as key factors in his selection, expected to provide valuable insights for the company's strategic advancement.
MAG Silver reports strong Q4 and full-year 2024 production results from the Juanicipio mine, where it holds a 44% stake. The operation processed 333,612 tonnes in Q4, maintaining steady production levels. Silver head grade averaged 417 g/t during Q4, contributing to a full-year average of 468 g/t, exceeding expectations.
Q4 production reached 4.3 million ounces of silver and 9,041 ounces of gold. For the full year 2024, Juanicipio produced 18.6 million ounces of silver and 39,029 ounces of gold, marking year-over-year increases of 10.5% and 6.3% respectively. The operation benefited from metallurgical improvements implemented in early 2024, resulting in consistently high precious metal recovery rates.
For 2025, production guidance is set at 14.7-16.7 million ounces of silver, based on a 4,000 tonnes per operating day throughput rate with head grades ranging between 380-430 g/t silver.
MAG Silver (TSX / NYSE American: MAG) has announced the retirement of Michael Curlook after twelve years of service as a key member of the company's Investor Relations team. During his tenure, Curlook was instrumental in evolving the company's communications strategy from early-stage exploration through development milestones to its current operational phase.
The retirement decision was mutually agreed upon to allow Curlook to focus on his health and ongoing therapy. His contributions included building strong relationships with investors and stakeholders, adapting communication strategies to align with MAG's growth, and establishing market trust and credibility.
MAG Silver reported strong Q3 2024 financial results with net income of $22,292 ($0.22 per share). The Juanicipio project processed 332,290 tonnes of ore at a silver head grade of 481 g/t, producing 4.9 million ounces of silver and 7.1 million ounces of equivalent silver. The operation achieved negative cash cost of $0.12 per silver ounce and all-in sustaining cost of $3.28 per silver ounce. Juanicipio generated operating cash flow of $109,836 and free cash flow of $96,948, returning $22,649 to MAG in interest and loan repayments. The company ended the quarter with $113,491 in cash.
MAG Silver reports strong Q3 2024 production from Juanicipio, processing 332,290 tonnes of ore. The operation achieved preliminary production of 4.9 million silver ounces and 10,801 gold ounces, with silver head grades averaging 481 g/t. The plant maintained steady production for the third consecutive quarter with 100% ore processing through the Juanicipio facility. Metal recovery rates continued to improve through operational enhancements. With ongoing operational outperformance, silver grades are expected to reach the top end of revised guidance (420g/t to 460g/t) for 2024.
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.
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