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MAG Silver Corp.

MAG Silver Corp. is a Canadian exploration and development company focused on becoming a top-tier primary silver mining company, by exploring and advancing high-grade, district scale, silver-dominant projects in the Americas. Our principal focus and asset is the Juanicipio Property (44%), being developed in partnership with Fresnillo Plc (56%) and is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp. We are presently developing the underground infrastructure on the property, with the operational expertise of our joint venture partner, Fresnillo plc, to support a 4,000 tonnes per day mining operation. As well, we have an expanded exploration program in place investigating other highly prospective targets across the property. In addition, we continue to work on regaining surface access to our 100% owned Cinco de Mayo property in Mexico while we seek other high grade, district scale opportunities.

Expert Comments:

MAG Silver Corp. reported first production results from its Juanicipio JV project in Mexico.
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Chris Thompson, PI Financial

"MAG Silver Corp. began processing development material from the Juanicipio project through the nearby Fresnillo plant with tonnage and attributable metals production in line with our estimates. The first production stope will be coming online in Q4/20 (on schedule), and construction of the Juanicipio plant is progressing on schedule for commencement of commercial production in H2/21."

Dr. Peter Megaw, MAG Silver's chief exploration officer, has been waiting for decades to explore the Deer Trail Mine area.
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Stephen Soock, Stifel

"MAG Silver Corp. announced it has assembled the Deer Trail project in Utah with an option to acquire 100% by spending $32M over the next 10 years. The property consists of 5,600 ha, hosting the past-producing Deer Trail mine. . .the acquisition comes with an extensive amount of data that have been compiled on a regional scale for the first time."

Craig Hutchison, TD Securities

"MAG Silver Corp. announced for the first time an agreement made on Dec. 20, 2018 to acquire 100% of the silver-rich Deer Trail carbonate replacement deposit project in Plute County, Utah. The company also announced a 6,500m phase 1 surface drilling program on the land package that will begin early October 2020."

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Heiko Ihle, H.C. Wainwright & Co.

"MAG Silver Corp. reported the completion of its $50M at-the-market offering; after initially announcing the program on June 30, 2020, the company has subsequently sold 3.1M common shares at an average price of $16.16/share for net proceeds of $48.6M for the entirety of the offering. These proceeds are expected to be sufficient for the completion of construction at Juanicipio as well as exploration and general corporate expenses."

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Gwen Preston, Maven Metals

"Production from the underground mine at MAG Silver Corp.'s Juanicipio is around the corner (this quarter) while mill commissioning is nine months away; this world-class silver asset is on the cusp of production. The company is fully financed to pay its part of remaining capex; this is a great spot in the process to own this stock."

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Joe Reagor, ROTH Capital Partners

"MAG Silver Corp. disclosed it had completed initial processing of 8,858 tons of mineralized material via one of Fresnillo's mills in August. We view this as a major milestone for the company and believe Q3/20 results will show positive cash flow from processing."

Underground mining at MAG Silver's joint venture project is expected to commence soon.
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A review of the investment thesis for MAG Silver is provided in a Raymond James report.
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Analysts say MAG Silver offers production as well as exploration upside.
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More Expert Comments

Experts Following This Company

Don DeMarco – National Bank Financial
Richard Gray, Analyst – Cormark Securities
Craig Hutchison, Analyst – TD Securities
headshot of Heiko Ihle
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
headshot of James Kwantes
James Kwantes Resource Opportunities
Brian MacArthur, Analyst – UBS Securities
Kevin MacKenzie, Analyst – PI Financial
headshot of Bhakti Pavani
Bhakti Pavani – Alliance Global Partners
headshot of Gwen  Preston
Gwen Preston, Founder Resource Maven
headshot of Joe Reagor
Joe Reagor, Analyst – ROTH Capital Partners
Stephen Soock – Stifel
Chris Thompson, Mining Analyst – PI Financial
Ryan Thompson – BMO Capital Markets
Trevor Turnbull, Analyst – Scotia Capital Inc.

The information provided above is from analysts, newsletters, the company and other contributors.

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