MAG Silver Corp.

MAG Silver is a leading exploration company working in the Mexican Silver Belt. The high-grade discoveries on our Juanicipio property are helping transform the Fresnillo Trend, the world's oldest and most prolific silver district. Work with partner Fresnillo plc (56%) is defining a world-class mineral resource—key to next-generation production by the world's largest silver miner.

MAG Silver featured in The Globe and Mail (1/22/10).

Watch MAG Silver President & CEO Dan MacInnis comment on withdrawal of Fresnillo's "take-under" bid on BNN. (6/25/09)

Listen now to a radio interview with Dan MacInnis, President & CEO, on Financial Sense (MacInnis third interview).

DM: MAG Silver Corp. is discounted by the market right now, but that one could be discounted more.

TGR: What makes it undervalued at this time?

DM: It's their internal rate of return. It's the growth rate of their assets, which are precious metals. People get hung up on the dollar price of the metals. As an example, if you started off in 2000 with 10 ounces of gold and you ended up in 2010 with 50 ounces of gold, by definition you're wealthier because you own more gold. The price variation is very significant to most people, but in the big scheme of things, it is not that important because gold is wealth and you have more of it. In other words your real wealth has increased regardless on a temporary paper price.
    -   The Gold Report Interview with David Morgan (02/26/10)

"MAG Silver is a pretty simple story. We continue to hold MAG because it is significantly undervalued based on its 44% ownership of the Juanicipio silver property in Mexico. Eventually I anticipate this value will be realized.

As the discovery-to-mine curve indicates, MAG Silver is near the upper end of the development curve—there is every reason to believe it will go into production eventually. The difficulty in realizing this value (as covered many times before) is that their 56% partner Fresnillo PLC is the 800-pound Mexican gorilla that controls development. Fresnillo attempted a hostile takeover last year at ~US$4.65, but was thwarted by MAG. Despite the obvious quality of the Juanicipio asset, no other takeover offers have come in, so we await Fresnillo's next move."
    -   Exploration Insights (02/07/10)

"MAG Silver Corp. (TSX:MAG) (NYSE:MVG) is moving along very well—there is no question they will be moving into production—with Fresnillo, their joint venture partner, on their in Zacatecas project. It's kind of a typical good news-bad news story for a junior company when they have a major as a partner. They are at the mercy of their partner regarding the timing and news flow. And as I mentioned in Part I, Fresnillo is showing no mercy dealing with MAG. They are well-funded at this point, and are doing exploration in some other areas. They've probably got one of the best teams in Mexico with Peter Megaw's group (Minera Cascabel) advising on their exploration programs. They have a new property in northern Chihuahua that I have not visited yet. That project, called Cinco de Mayo, is showing some very good initial results. They don't have a resource defined yet, but they are exploring for carbonate replacement deposits (CRDs), which can get very big."
    -   The Gold Report Interview with Trey Wasser (Pt. II) (01/11/10)

"Silver stocks are starting to break out of long basing patterns. Although I have followed SLW – Silver Wheaton, SLV—iShares Silver Trust ETF and the price of silver for quite some time on my public list I have somewhat neglected the sector. Today I added MVG—MAG Silver to the list as it popped up in my above average volume scans. This could be the start of a move to the upside. Keep in mind though most silver mining stocks have quite some overhead resistance they will need to fight through. So from a purely technical perspective, there is no need to rush things as they are unlikely to develop immediate explosive momentum to the upside as opposed to stocks trading at all-time highs."
    -   Tischendorf Letter (12/02/09)

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