Past year: ▲ 81%(19.03 – 34.38 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
4 Mar 2020drilling result▲ Good
MAG announced 2019 infill drilling results at Valdecañas and the discovery of two new veins. The best infill hole, D5-12, hit 5.7 m at 3,884 g/t silver, 8.4 g/t gold, 8.4% lead and 9.7% zinc. The Venadas II discovery hole, P32, hit 1.2 m at 279 g/t silver and 0.7 g/t gold.
24 Feb 2020joint venture update▲ GoodMajor
Fresnillo plc and MAG, as joint venture partners, gave a Juanicipio project update 'now that construction is' under way (the sentence is cut off). The visible text has no details on cost, schedule or production, so none can be stated. If construction has begun, that would move the project past the permitting stage described in 2012 (an inference from the text).
28 Apr 2017regulatory community update● Neutral
MAG filed the notice of its annual general and special meeting, dated April 28, 2017. The visible text does not show the meeting date or agenda.
14 Feb 2017drilling result▲ Good
MAG reported wide, high-grade intercepts that extend a zone it calls the Valdeca as Deep Zone West, plus strong gold in a second zone (the headline is cut off). A material change report was filed with it. The visible text has no grades or widths, so none are stated.
29 Apr 2016regulatory community update● Neutral
MAG filed a transfer agent notice with the shares and notice of meeting documents, dated April 29, 2016. The visible text gives no meeting date or agenda.
1 Mar 2016capital raising announcement● NeutralMajor
MAG announced it closed a US$65 million bought deal financing. The visible text is only the headline, so the share price, number of shares and use of proceeds are not stated. This is new equity, so it means dilution for existing holders (an inference from the share issue).
4 May 2015regulatory community update● Neutral
MAG filed a transfer agent notice of meeting and record date, dated May 4, 2015. The visible text gives no dates, so nothing more can be said.
23 Apr 2015drilling result▲ Good
MAG reported drilling that extends the Valdecañas vein to depth, with the headline citing the 'widest intercepts to date' and a result of 405 g/t silver. The remaining figures are cut off, so the intercept widths are not stated.
7 July 2014resource reserve update● Neutral
MAG refiled the Juanicipio technical report, amended June 30, 2014 'to include enhanced cautionary language'. The underlying resource estimate is the December 31, 2013 estimate, reported on a 100% basis (MAG owns 44%). The report also refers to the 2012 PEA, which described an average of 15.1 million payable ounces of silver a year over the first six full years and a 14.8-year mine life. The visible text does not show the 2014 resource figures.
27 June 2014capital raising announcement● NeutralMajor
MAG announced a C$75 million bought deal financing, in which underwriters buy the shares up front. The visible text is only the headline, so the share price, share count and use of proceeds are not stated. New shares would dilute existing holders (an inference from the share issue).
18 June 2014resource reserve update● NeutralMajor
MAG filed the NI 43-101 technical report (June 12, 2014) supporting the updated Juanicipio resource estimate, prepared by RPA with authors David Ross, Jason Cox and Holger Krutzelmann. The visible text is only the cover and exhibit list, so the resource numbers are not stated here.
27 May 2014resource reserve update▲ GoodMajor
MAG announced an updated resource estimate for Juanicipio, with a headline reference to 'bonanza grade silver'. This is the update the supporting technical report in June covers. The visible text does not include the resource figures, so the change from the earlier estimate (Indicated 6.2Mt at 728 g/t silver, Inferred 7.1Mt at 373 g/t) cannot be stated.
28 Apr 2014regulatory community update● Neutral
MAG filed a transfer agent notice and the notice of its 2014 annual general and special meeting. The visible text gives no date or agenda, so what shareholders will vote on is not stated.
17 Mar 2014drilling result▲ Good
MAG reported high-grade silver-copper-zinc drill intercepts, from a zone whose name is cut off in the headline (it begins 'Salam...'). The visible text has no hole-by-hole numbers, so nothing more can be said about the results.
13 Mar 2014regulatory community update▲ Good
MAG reported that the Juanicipio project obtained an explosives permit; the headline says the contractor hired by Fresnillo got it. Only the headline and first line are visible, so further detail is unknown. This fits the permitting and underground development work flagged in 2012 as a use for the private placement funds.
18 Feb 2014drilling progress report● Neutral
MAG filed a news release headed 'Development & Exploration Update' (February 17, 2014). The visible text is only the cover form and exhibit list, so no results or details can be reported. The filing is now signed by George Paspalas as President & CEO, where earlier filings were signed by Dan MacInnis.
16 Apr 2013regulatory community update● Neutral
MAG filed a transfer agent's notice of meeting and record dates, dated April 15, 2013. The visible text gives no dates or agenda, so nothing more can be said.
20 Nov 2012resource reserve update● NeutralMajor
MAG filed a technical report on the Upper Manto Deposit in Chihuahua, Mexico (dated November 14, 2012), with the qualified person's consent and certificate. The visible text is only the cover page and exhibit list, so no resource figures or conclusions can be stated. Chihuahua is where Cinco de Mayo is located, so this is likely the report behind the planned initial resource estimate (an inference from the location).
6 Sept 2012capital raising announcement● NeutralMajor
MAG closed its private placement at C$33.1 million (the headline figure; the August announcement had said about C$25 million), which means new shares were issued. Separately, MAG settled a proxy fight with Mining Investors for Shareholder Value (MISV), a group holding about 9.76% of MAG's shares: Richard Clark and Peter Barnes will join a nine-person board slate for the October 5, 2012 annual meeting, and founder director R. Michael Jones will not stand for re-election.
24 Aug 2012regulatory community update● Neutral
MAG filed meeting-related paperwork: a news release on the meeting and record date and approval of an advance notice policy, the policy itself, and a notice of annual general and special meeting. The visible text contains no meeting date, record date or policy terms, so nothing further can be said about what shareholders will vote on.
23 Aug 2012capital raising announcement● NeutralMajor
MAG announced a private placement of common shares at C$9.40 per share for gross proceeds of about C$25 million, through agents led by BMO Capital Markets and expected to close around September 5, 2012. The proceeds are to fund the Juanicipio permitting and underground development program, Cinco de Mayo exploration and an initial resource estimate, and general corporate purposes. The filing's cover and exhibit titles say the deal was confirmed at C$33.1 million, but the visible text only gives the C$25 million details. It means new shares issued, diluting existing holders (an inference from the share issue).
18 July 2012resource reserve update● NeutralMajor
MAG filed the AMC Mining Consultants technical report (effective July 1, 2012) for Minera Juanicipio, the 44%-MAG / 56%-Fresnillo joint venture. Its contents cover a mining concept, capital and operating costs, and an economic analysis built on the November 2011 resource estimate (100 g/t silver cut-off). This appears to be the updated study flagged since July 2011, and it is described as a preliminary study. The visible excerpt is only the table of contents, so the actual economic results, capital cost and resource figures cannot be stated here.
17 May 2012drilling result▲ GoodMajor
MAG reported further Bridge Zone drilling at Cinco de Mayo: 12 of 15 step-out holes hit significant massive sulphides, with best results of 314 g/t silver, 7.6% lead and 14.0% zinc over 4.35 metres (CM12-411) and 2,367 g/t silver with 61.7% lead over 1.71 metres (CM12-405). In response MAG raised its 2012 Cinco drilling budget by $2 million to $5.5 million and went from one to four rigs, with a fifth expected. This continues the March 2012 results and expands the program; it is still exploration, with no resource estimate stated.
26 Mar 2012drilling result▲ Good
MAG reported more drill results at its wholly owned Cinco de Mayo property in Chihuahua. Eight of ten holes in the 'Bridge Zone' hit massive silver-lead-zinc sulphides (assays pending on two), with the best hole CM12-390 at 274 g/t silver, 5.5% lead and 17.2% zinc over 8.08 metres. MAG says this shows mineralization continuing over a 400 metre dip length and, if confirmed, linking up with the Jose Manto into a body at least 4,000 metres long. This builds on the November 2011 hole CM11-380 result; no resource estimate is given.
23 Feb 2012drilling result▲ Good
MAG reported first drill results at La Esperanza in Zacatecas, a project where it is earning a 60% interest from Canasil Resources. The best hole, ES12-03, hit 2.42 metres at 278 g/t silver, 2.8% lead and 5.8% zinc inside a 10.28 metre intercept averaging 97 g/t silver. Drilling continues, with about 4,000 metres planned, and to earn its interest MAG must spend CAD$5 million on exploration by September 1, 2014 (CAD$912,480 done to end of 2011) and pay Canasil CAD$350,000 by September 1, 2013.
3 Feb 2012resource reserve update▲ GoodMajor
MAG filed the RPA technical report supporting its December 19, 2011 resource update for Juanicipio (100% basis, data to August 5, 2011): Indicated 6.2 million tonnes at 728 g/t silver, and Inferred 7.1 million tonnes at 373 g/t silver. The report states there are no Mineral Reserves on the property, and recommends a US$8.65 million 2012 budget (about 36,000 m of drilling) on a 100% basis.
5 Dec 2011resource reserve update● NeutralMajor
MAG filed the independent technical report by Strathcona Mineral Services (dated November 11, 2011) estimating mineral resources for Minera Juanicipio, commissioned by the joint venture's Technical Committee. The report notes the earlier Fresnillo and MAG-side (RPA) year-end 2010 estimates differed in silver grade and were the subject of a technical debate, and the Strathcona estimate follows that. The visible text does not include the final resource figures, so what it means for MAG's 44% share cannot be stated from this excerpt.
19 July 2011joint venture update● Neutral
MAG said the Juanicipio joint venture (MAG 44%, Fresnillo plc 56% and project manager) will hire an independent consultant to produce a new resource estimate from drilling up to June 2011. AMC Mining Consultants will then base its updated study of a standalone underground silver mine on that estimate, and the joint venture now expects the study in the third quarter of 2011, with no assurance on timing.
