MAG Silver - CEO, George Paspalas.
CEO, George Paspalas.
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  • MAG Silver (MAG) has reported Q2 production at the Juanicipio underground mine in Zacatecas, Mexico
  • Production for the quarter totalled 434,885 ounces of silver and 787 ounces of gold
  • Construction of the Juanicipio processing plant remains on schedule for commissioning in Q4 2021
  • MAG Silver explores and advances high-grade, district scale, silver-dominant projects in the Americas
  • MAG Silver (MAG) is up by 2.17 per cent and is currently trading at $24.02 per share

MAG Silver (MAG) has reported Q2 production at the Juanicipio underground mine in Zacatecas, Mexico.

The Juanicipio Project is a joint venture between Fresnillo (56 per cent) and MAG Silver (44 per cent).

Fresnillo, the project operator, processed 44,435 tonnes of development material during the quarter ended June 30, 2021.

Production for the quarter, based on provisional estimates before offtake agreement adjustments, totalled 434,885 ounces of silver and 787 ounces of gold.

The companies are employing production revenue to offset initial project capital cash requirements.

Construction of the Juanicipio processing plant is making considerable progress, including the installation of flotation cells and filters completed in Q2. The plant remains on schedule for commissioning in Q4 2021.

George Paspalas, MAG Silver’s President and CEO, commented,

“We are very pleased with the progress of the Juanicipio plant as we now enter the last stages of construction. The metallurgical results from the ongoing processing of mineralized development materials through the Fresnillo plant continue to de-risk the commissioning and ramp-up stage of the Juanicipio plant later this year, as well as provide a nice side-stream cash injection.”

MAG Silver explores and advances high-grade, district-scale, silver-dominant projects in the Americas.

MAG Silver (MAG) is up by 2.17 per cent and is currently trading at $24.02 per share as of 1:14 pm ET.

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