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:

headshot of Peter Krauth

Peter Krauth, Gold Resource Investor

"MAG Silver Corp. reported phase one drill results on Deer Trail. . .hole DT21-02 returned 0.5m core length grading 426 g/t silver, 6.5 g/t gold, 17.1% lead plus zinc. Hole DT21-03 returned 1.9m core length grading 952 g/t silver, 38.2 g/t gold, 9.2% lead plus zinc; these are very nice grades."

Results of MAG Silver's 2020 drill program at its Mexico joint venture project Juanicipio are interpreted in a National Bank of Canada report.
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CIBC World Markets Inc. stated in a research report that MAG Silver posted solid results from its 2020 110-hole drill program at its Juanicipio JV Project in Fresnillo, Mexico. CIBC commented that when the new 4,000 tpd Juanicipio mill comes online it will provide a key catalyst towards growing throughput processing capabilities and expanding the resource.
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MAG Silver's Q2/21 production at Juanicipio is reviewed in a ROTH Capital Partners report.
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A Stifel report noted MAG Silver "demands a higher premium given its 'royalty-like' structure and strong, near-term-free cash flow."
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Brian MacArthur, Raymond James

"MAG is one of the better options for investors looking for exposure to silver, given its 44% interest in the world-class Juanicipio joint venture, which is a district-scale, low-cost, high-grade silver development project with a strong partner and meaningful exploration potential. Given the high quality of the asset, a strong partner, its near-term startup which could lead to a market rerating, MAG's financial position and excellent exploration potential, we rate the shares Outperform."

headshot of Heiko Ihle

Heiko Ihle, H.C. Wainwright & Co.

"MAG Silver Corp. announced the completion of its FY20 drill program. . .in staying ahead of drilling, the company's FY21 program is already underway, with five drill rigs active at surface in conjunction with ongoing underground definition drilling."

Don DeMarco, National Bank of Canada

"MAG Silver Corp. reported 56/56 intercepts/holes from the Bonanza zone, the main source of mill feed for the initial few years of the Juanicipio mine life. Results averaged 655 Ag eq over 2.9m (versus resource grade of 789 g/t Ag eq as at October 2017). Highlight hole MIC-6 returned 3.3 g/t Au and 1,356 g/t Ag or 1,599 Ag Eq over 5.2m."

headshot of Cosmos Chiu

Cosmos Chiu, CIBC World Markets

"A total of 33 surface holes (27,900m) and 77 underground definition holes (11,800m) was completed at MAG Silver Corp.'s joint venture Juanicipio. . .overall, the results show significant increase in drill hole intercept density and growth of the Valdecañas vein, especially the Deep zone, since the 2017 preliminary economic assessment. . .the 2021 drill program is well on track with five drill rigs on surface concurrent with continued underground definition drilling."

Chris Thompson, PI Financial

"Results from the 2020 infill and expansion drill program at MAG Silver Corp.'s Juanicipio joint venture confirm the significant resource expansion potential that exists at depth, particularly in the Deep zone of the Valdecañas vein. Impressive grades over significant widths were also achieved from infill drilling of the Valdecañas vein Bonanza zone. . .other high-grade intercepts occurred in veins that lie outside our assumed mine plan, providing optionality for future growth."

A BMO Capital Markets report discusses MAG Silver's financial position and the Juanicipio joint venture.
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H.C. Wainwright & Co. raises its target price on MAG Silver.
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A TD Securities report discusses MAG Silver's financial and operational update.
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A National Bank of Canada Financial Services report explains why it considers MAG Silver Corp.'s capex of the Juanicipio project fully funded.
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A Cormark Securities report discusses the milestone that could drive MAG Silver Corp.'s multiple higher.
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A Scotiabank report recommends MAG Silver "as a near-term emerging producer with projected AISC (all-in sustaining costs) of half those the operating peer group."
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Q1/21 production and processing numbers from MAG Silver and Fresnillo's joint venture project in Mexico are reviewed in a BMO Capital Markets report.
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More Expert Comments

Experts Following This Company

headshot of Cosmos Chiu
Cosmos Chiu, Executive Director of Precious Metals Equity Research – CIBC World Markets
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 Peter Krauth
Peter Krauth, Pres – Gold Resource Investor
Brian MacArthur, Analyst – Raymond James
Clive Maund –
headshot of Gwen  Preston
Gwen Preston, Founder Resource Maven
headshot of Joe Reagor
Joe Reagor, Analyst – ROTH Capital Partners
Stephen Soock – Stifel
Ryan Thompson – BMO Capital Markets
Chris Thompson, Mining Analyst – PI Financial
Trevor Turnbull, Analyst – Scotia Capital Inc.

Company News

9/7/2021 – MAG Silver Reports Successful Phase 1 Deer Trail Drilling Results

8/5/2021 – MAG Silver Reports 2020 Juanicipio Drill Results

8/3/2021 – MAG Silver Announces the Appointment of Dale Peniuk as a Director

7/28/2021 – MAG Silver Reports Second Quarter Juanicipio Underground Mine Production

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

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