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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:

National Bank of Canada

"MAG Silver Corp. offers mergers and acquisitions appeal as it derisks development with a view toward production and trades below producer multiples. Moreover, the company offers fully funded development, low-cost production, elevated free cash flow and exploration upside. . .the most likely suitor continues to be its joint venture partner Fresnillo."

Peter Krauth, Silver Stock Investor

"MAG Silver Corp. is a true anomaly in the silver market; the company is a partner in a mine which is soon to become the largest silver mine in the world. . .what's also significant is that over the next five years, an estimated 72% of MAG's revenues will come from silver, making it one of the purest primary silver producers on the planet."

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Joe Reagor, ROTH Capital Partners

"On Nov. 18, 2020, MAG Silver Corp. held a webinar to update investors on the Deer Trail project. We were encouraged by the update. . .the company is in the midst of an initial drill program at the project with results anticipated in early 2021. . .management did a good job of outlining the significant exploration potential on the project."

Also during the quarter, MAG Silver announces an earn-in project in Utah and establishes an at-the-market equity program.
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Ryan Thompson, BMO Capital Markets

"On Oct. 21, MAG Silver Corp. announced that 46 Kt of material were processed in Q3/20, for total production of 394 Koz silver (plus gold, lead and zinc byproducts). The company's attributable production was 173 Koz. . .we have increased our multiple to 2.1x price:net asset value to set our new target price of $26."

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Gwen Preston, Maven Metals

"After years of exploration, planning and underground development, MAG Silver Corp. and partner Fresnillo have produced their first silver and gold at Juanicipio! This is development material, which means ore that was mined as part of developing underground workings. . .but to have enough development ore that it's worth processing is just another indication that this operation is getting close."

MAG Silver Corp. reported first production results from its Juanicipio JV project in Mexico.
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Chris Thompson, PI Financial

"MAG Silver Corp. began processing development material from the Juanicipio project through the nearby Fresnillo plant with tonnage and attributable metals production in line with our estimates. The first production stope will be coming online in Q4/20 (on schedule), and construction of the Juanicipio plant is progressing on schedule for commencement of commercial production in H2/21."

Dr. Peter Megaw, MAG Silver's chief exploration officer, has been waiting for decades to explore the Deer Trail Mine area.
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Underground mining at MAG Silver's joint venture project is expected to commence soon.
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More Expert Comments

Experts Following This Company

Don DeMarco – National Bank Financial
Richard Gray, Analyst – Cormark Securities
Craig Hutchison, Analyst – TD Securities
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Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
headshot of James Kwantes
James Kwantes Resource Opportunities
Brian MacArthur, Analyst – UBS Securities
Kevin MacKenzie, Analyst – PI Financial
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Bhakti Pavani – Alliance Global Partners
headshot of Gwen  Preston
Gwen Preston, Founder Resource Maven
headshot of Joe Reagor
Joe Reagor, Analyst – ROTH Capital Partners
Stephen Soock – Stifel
Chris Thompson, Mining Analyst – PI Financial
Ryan Thompson – BMO Capital Markets
Trevor Turnbull, Analyst – Scotia Capital Inc.

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

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