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MAG Silver Corp. is a growth-oriented Canadian mining and exploration company focused on advancing high-grade, district-scale precious metals projects in the Americas. The company is emerging as a top-tier primary silver mining company through its 44% joint venture interest in the Juanicipio Mine, which is operated by Fresnillo plc, holding the remaining 56% interest. The Juanicipio Mine is located in the Fresnillo Silver Trend in Zacatecas, Mexico, known as the world's premier silver mining camp. MAG Silver's shares are listed on both the Toronto Stock Exchange (TSX) and the NYSE American, under the symbol "MAG".
- Juanicipio Mine - Produces precious metals including silver, gold, lead, and zinc, contributing significantly to the company's revenue.
- Silver - Major revenue contributor from the Juanicipio Mine.
- Gold - Significant revenue contributor from the Juanicipio Mine.
- Zinc - Important revenue contributor from the Juanicipio Mine.
- Lead - Contributes to the revenue from the Juanicipio Mine.
- Deer Trail Project - Engages in exploration activities in Utah, aiming to advance high-grade mineral projects.
- Larder Project - Conducts exploration in the Abitibi region of Canada, focusing on district-scale precious metals projects.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
George N. Paspalas ExecutiveBoard | President, CEO | Director of Kinross Gold Corporation | George N. Paspalas has been the CEO of MAG Silver Corp. since October 15, 2013, bringing over three decades of mining industry experience with prior leadership roles at Aurizon Mines, Silver Standard Resources, and Placer Dome Africa. He also contributes externally as a board member at Kinross Gold Corporation. | View Report → |
Fausto Di Trapani Executive | Chief Financial Officer (CFO) | Fausto Di Trapani is the Chief Financial Officer (CFO) of MAG Silver Corp. since May 20, 2022, and previously served as CFO of Galiano Gold Inc.. | ||
Dale Peniuk Board | Independent Director and Chair of the Audit Committee | Board member and Chair of the Audit Committee at Lundin Mining Corporation ; Board member and Chair of the Audit Committee at Kuya Silver Corporation | Dale Peniuk is a seasoned Chartered Professional Accountant (CPA, CA) with over 30 years of experience in financial oversight. He currently serves at MAG Silver Corp. as an Independent Director and Chair of the Audit Committee since August 3, 2021, bringing extensive expertise in governance and risk management. | |
Jill Leversage Board | Independent Director | Aurinia Pharmaceuticals Inc.; RE Royalties Ltd.; Insurance Corporation of BC; Vancouver Airport Authority | Jill Leversage has served as an Independent Director at MAG Silver Corp. since December 22, 2014 , where she provides key oversight in audit and governance. She brings over 30 years of experience in financial services and has held director roles at Aurinia Pharmaceuticals Inc., RE Royalties Ltd., Insurance Corporation of BC, and Vancouver Airport Authority. | |
Peter D. Barnes Board | Chair of the Board | Peter D. Barnes has served as Chair of the Board at MAG Silver Corp. since June 18, 2020 and as a Director since October 5, 2012. He previously held executive roles including CEO of Wheaton Precious Metals (2006–2011) and CFO of Goldcorp (2005–2006). | ||
Selma Lussenburg Board | Independent Director | Director at Ontario Power Generation; Director at Muskoka Airport; Member of the CUSMA 31.22 Advisory Committee | Selma Lussenburg is an Independent Director at MAG Silver Corp since February 1, 2020. With over 35 years of business experience, she has held senior roles in legal, governance, and corporate safety, contributing significantly to board oversight and ESG practices. | |
Susan F. Mathieu Board | Independent Director | Susan F. Mathieu has been serving as an Independent Director at MAG Silver Corp since January 13, 2021. With over 25 years of international mining experience and expertise in governance, sustainability, and technical oversight, she has contributed significantly to the company. | ||
Tim Baker Board | Independent Director | Director of Triple Flag Precious Metals Corp.; Director of RCF Acquisition Corp. | Tim Baker has extensive experience in international mining operations, having held leadership roles at Kinross Gold and Placer Dome. He has been serving as an Independent Director at MAG Silver since March 31, 2021, and contributes to board governance and oversight as Chair of the Compensation and Human Resources Committee. | |
Tom Peregoodoff Board | Independent Director | Director of American West Metals; Director of American Copper Development | Tom Peregoodoff, with over 30 years of industry experience, was appointed as an Independent Director at MAG Silver Corp. effective January 1, 2024, and serves on both the Technical Committee and the HSEC Committee. | |
Peter Megaw | Consultant | Principal of IMDEX; Principal of Cascabel | Dr. Peter Megaw co-founded MAG Silver and has held significant roles at the company, including serving as Chief Exploration Officer for 10 years until his retirement on May 21, 2024, and as a Board Member earlier in his career. With over 45 years of exploration experience in silver and gold, he currently serves as a consultant at MAG Silver. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Goldstake property | 2024 | MAG Silver Corp. completed the acquisition of 100% of the Goldstake property (from Goldstake Explorations Inc. and Transpacific Resources Inc.) on March 22, 2024, for a total consideration of C$5,000, strategically enhancing its exploration potential contiguous to its Larder Project in Ontario, Canada. |
Gatling Exploration Inc. | 2022 | MAG Silver Corp. acquired Gatling Exploration Inc. on May 20, 2022 via a court-approved plan of arrangement for a total of $14.039 million, obtaining a 100% interest in the Larder Project in Ontario’s Abitibi greenstone belt; the deal included a secured convertible bridge loan of C$3 million, aligning with its growth strategy in gold exploration. |
Recent press releases and 8-K filings for MAG.
- MAG Silver Corp reported a net income of $77,779K (or $0.75 per share) and an adjusted EBITDA of $186,734K for 2024, driven largely by its 44% share of income from the Juanicipio mine.
- The Juanicipio mine operated at strong capacity, processing 1,328,178 tonnes of ore and producing 18.6 million ounces of silver with a metallurgical recovery rate of 93%, reflecting operational improvements over the prior year.
- The company declared its inaugural dividend comprising a fixed component of $0.02 per share and an additional $0.16 per share cash flow-linked dividend, returning $18,604 to shareholders while bolstering its cash position.
- MAG Silver Corp. has adopted a dividend policy that provides for a quarterly fixed dividend of $0.02 per share, with an additional cash flow-linked dividend when average realized silver prices exceed $20 per ounce.
- The company declared its inaugural dividend comprising a fixed dividend of $0.02 per share and a cash flow-linked dividend of $0.16 per share, totaling $0.18 per share, linked to approximately 30% of the $53.85 million cash received from Juanicipio in Q4 2024.
- The inaugural dividend is scheduled for payment on April 21, 2025, to shareholders on record as of April 4, 2025, and qualifies as an eligible dividend under the Income Tax Act (Canada).
- Future dividend declarations, both fixed and cash flow-linked, will be subject to the discretion of the Board, considering the Company’s financial performance and other operational factors.