- MAG Silver, a profitable silver stock, achieved commercial production at its 44-per-cent owned Juanicipio Project in Mexico effective June 1, 2023
- Design capacity production is expected by Q3, with 3.2 million ounces of silver having been produced from Juanicipio from March to May 2023
- MAG Silver is a Canadian silver development and exploration company focused on the Americas
- MAG Silver (TSX:MAG) last traded at $16.81 per share
Profitable silver stock MAG Silver achieved commercial production at its 44-per-cent owned Juanicipio Project in Mexico effective June 1, 2023.
The mine, processing facility and vital systems are operating sustainably, either in line with or approaching design capacity.
The Juanicipio mill is operating at 85 per cent of its design capacity of 4,000 tonnes per day, with silver recovery consistently above 88 per cent.
Approximately 3.2 million ounces of silver have been produced from the Juanicipio processing facility from March to May 2023.
Production is expected to reach design capacity by Q3.
“Reaching this important milestone of commercial production at Juanicipio completes our transformation from developer to producer,” said George Paspalas, President and CEO of MAG Silver. “Today marks the beginning of a very exciting and dynamic growth phase for MAG as we combine stable, high-margin silver production with the ongoing high-grade exploration potential that has made and continues to make MAG so unique.”
MAG Silver is a Canadian silver development and exploration company focused on the Americas. Its flagship 4,000 tonnes per day Juanicipio Project, operated by Fresnillo Plc (56 per cent owned), is undergoing an expanded exploration program targeting multiple highly prospective targets.
The company is also exploring on projects in Utah and Canada’s Abitibi region.
MAG Silver (TSX:MAG) last traded at $16.81 per share.
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