Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Streetwise Reports (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Silver Miner On-Track to Complete 4,000 TPD Plant at Mexico Property in Q4

% of readers think this story is Fact. Add your two cents.


Source: Streetwise Reports   08/17/2021

Scotiabank stated in a research report that its outlook for MAG Silver Corp. remains positive as the firm is expected to commission a new processing plant at its Juanicipio JV project in Q4/21.

In a July 28 research note, Scotia Capital Inc. (Scotia Bank) Analyst Trevor Turnbull, MBA, MSc, provided an update on recent activities at advanced stage silver development and exploration company MAG Silver Corp. (MAG:TSX; MAG:NYSE American) Juanicipio JV project in Zacatecas, Mexico.

Turnbull commented in the report that MAG Silver reported on Q2/21 pre-production results at the Juanicipio JV, which is owned 44% by MAG and 56% by Fresnillo Plc (FRES:LSE) and added that the project’s ore processing plant is scheduled for commissioning in Q4/21. According to the report, the JV processed a total of around 44,400 tonnes of ore that produced 435 Koz Ag. with sales attributable to MAG of 166 Koz.

Analyst Turnbull pointed out that MAG Silver continues to be one of Scotiabank’s leading picks as it is expected to become a rapidly emerging low-cost silver producer in H1/22. Turnbull noted that as production gears up fully, all-in sustaining costs (AISC) are expected to be only half of the current producer average.

The report listed that at the end of Q2/21 MAG held approximately $65 million in cash on its balance as it enters the final stages of construction at the new 4,000-tonne-per-day plant at Juanicipio. Scotiabank projects that the cash balances will decrease to around $26 million at year-end during plant commissioning. It is anticipated that pre-commercial production in the range of 48,000 tonnes per quarter will help in funding capital outlays.

Scotiabank advised that it is making an adjustment to MAG Silver’s net asset valuation (NAV5%) to US$13.49, up from US$13.35 and stated that pending financial reporting is expected in mid-August. No significant changes were made to its capex forecast or business valuation model. Analyst Turnbull indicated that the updated NAV calculations were the result of changes in its estimates for future silver prices to US$27.25/oz in H2/21, US$32.00/oz in 2022, and US$28.00/oz in 2023. For 2025 and beyond, the firm’s models incorporate a long-term silver price of US$20.00/oz.

Scotiabank currently has a Sector Outperform rating for MAG Silver Corp. with a target price of CA$23.51/share. The company’s shares trade on the Toronto Stock Exchange under the symbol MAG and closed for trading at CA$22.65/share on August 17, 2021.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: MAG Silver Corp. Click here for important disclosures about sponsor fees.  
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities ofMAG Silver Corp., a company mentioned in this article.

( Companies Mentioned: FRES:LSE, MAG:TSX; MAG:NYSE American, )


Source: https://www.streetwisereports.com/article/2021/08/17/silver-miner-on-track-to-complete-4-000-tpd-plant-at-mexico-property-in-q4.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.


LION'S MANE PRODUCT


Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules


Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.



Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.


Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.