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Research Report
Streetwise Reports (6/3/21) A National Bank of Canada Financial Services report explains why it considers MAG Silver Corp. s capex of the Juanicipio project fully funded.
Juanicipio
In a May 17 research note, National Bank of Canada analyst Don DeMarco reported the most relevant points from MAG Silver Corp. s (MAG:TSX; MAG:NYSE A) Q1/21 filings and recent Juanicipio project update. The key topics were capex, cash and catalysts.
As for capex and cash, DeMarco noted that the MAG SilverFresnillo joint venture (JV) has increased its capex spending rate recently with the advancement of construction at the Mexico project. Specifically, in Q1/21, the JV spent US$34.0 million versus US$26.2 million in Q4/20. The firm s view is that most of the capex spent during Q1/21 was funded with Minera Juanicipio JV working capital, which was US$51.5 million and is now US$3.1 million.
MAG Silver reports first quarter financial results so-co-it.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from so-co-it.com Daily Mail and Mail on Sunday newspapers.