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'We're ready to fly' - MAG Silver on its Juanicipio operations

Kitco News

(Kitco News) - MAG Silver's Mexico operations are nearing the finish line, said George Paspalas, president and CEO of MAG Silver.

Earlier this month Paspalas spoke to Kitco at the 2022 Precious Metal Summit Zurich.

MAG Silver (TSX:MAG) is a Canadian development and exploration company focused on silver. Its principal focus is its Juanicipio operation. MAG has a 44% stake. Fresnillo, which has the remaining 56% stake, is the operator. Underground mine production of "mineralized development material" at Juanicipio began in 2020. The mine was brought into commercial production in Jan 2022. The plant is awaiting final electrical tie-in.

"We're doing our electrical commissioning. [That] side-stream processing got us through this year, being able to fund the balance of the spend on the Juanicipio project," said Paspalas. "[We're] ready to fly."

MAG is also advancing projects in Deer Trail, a 100% earn-in asset in Utah. MAG also recently acquired the Larder project located in the historically prolific Abitibi region of Canada.

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