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 Corp. has reported progress from its 2020 drilling program at the Juanicipio Project, which is a 56%/44% joint venture with Fresnillo plc. The program included 110 holes totaling 39,700 meters, focusing on infilling and expanding high-grade silver resources. Highlights from the drilling include the confirmation of continuous mineralization in the Valdecañas Bonanza and Deep Zones, with results indicating significant silver and gold grades. The mill construction is on schedule for commissioning in Q4 2021, supporting a promising outlook for future production.
MAG Silver Corp. (MAG) has announced the appointment of Mr. Dale Peniuk to its Board of Directors. A Chartered Professional Accountant with extensive mining industry experience, he currently chairs the audit committee for Lundin Mining and has previously served many Canadian public mining boards. His expertise is expected to enhance MAG's leadership as it prepares to enter production at the Juanicipio Project. This project, a joint venture with Fresnillo Plc, aims to develop a significant underground mine and processing plant anticipated to commence commissioning in Q4 2021.
MAG Silver Corp. (MAG) reported a successful second quarter of 2021 for the Juanicipio Project, a joint venture with Fresnillo. The project produced 434,885 silver ounces and 787 gold ounces, with MAG's attributable share being 191,349 ounces of silver and 346 ounces of gold. The processing of mineralized development material at Fresnillo's plant is ongoing and generating revenue to offset initial capital costs. The Juanicipio processing plant construction is on track, with commissioning expected in Q4 2021.
MAG Silver Corp. has successfully held its annual general and special meeting (AGSM) on June 21, 2021. Shareholders voted to elect all seven directors, re-appoint Deloitte LLP as the auditor, and endorse the executive compensation approach. The company extends its gratitude to Derek White for his 14 years of service on the board. The total votes cast for the directors were approximately 54 million, with very high approval percentages, ranging from 97.80% to 99.90%. MAG Silver is focused on becoming a leading primary silver mining company, particularly through its Juanicipio Project.
MAG Silver Corp. (MAG) reported its unaudited financial results for Q1 2021, highlighting operational advancements and financial metrics. The company processed 36,395 tonnes of mineralized material, achieving a 40% higher silver head grade of 458 g/t, and recorded gross profits of $8,199. The commissioning of the Juanicipio processing plant is anticipated in Q4 2021, with expected capacity ramping up to 90-95% in 2022. As of March 31, 2021, MAG held cash and equivalents of $92,844 and a working capital of $94,923, reflecting a net loss of $3,662 for the quarter.
MAG Silver Corp. (MAG) announced its Q1 2021 production results from the Juanicipio Project, reporting 36,395 tonnes of underground development material processed. This led to total production of 462,321 silver ounces and 697 gold ounces, with MAG's share being 203,421 silver ounces and 307 gold ounces. The revenue generated will help offset capital cash requirements. The Juanicipio processing plant is expected to commence commissioning in Q4 2021, continuing the positive momentum from ongoing development and metallurgical insights gained during production.
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.
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