Magna Gold Reaches 3 Million Manhours Without a Lost-Time Incident prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
Magna Gold Reports on Final Payments for the San Francisco Mine Acquisition
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TORONTO, May 7, 2021 /PRNewswire/ - Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ( Magna or the Company ) is pleased to announce the payment of US$5,000,000 to Argonaut Gold Inc. ( Argonaut ) in relation to the acquisition of the San Francisco Mine.
Pursuant to a definitive share purchase agreement dated March 5, 2020, as amended April 24, 2020, between Mexican subsidiaries of Argonaut and Magna for the acquisition of the San Francisco Mine, Magna was required to pay US$5,000,000 plus a working capital differential by May 6, 2021. Magna has completed the US$5,000,000 payment from working capital and provided a promissory note for the remaining balance of US$2,675,000 to be paid in four monthly installments commencing July 6, 2021 and ending October 6, 2021. The promissory note bears uncompounded interest at a rate of 5% per annum.
Magna Gold Fast-Tracking Million-Ounce Former Gold Mine in Mexico Toward Production streetwisereports.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetwisereports.com Daily Mail and Mail on Sunday newspapers.
/PRNewswire/ - Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ("Magna" or the "Company") is pleased to announce its preliminary operating results for the three.
Magna Gold Reports Year End 2020 Results
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TORONTO, April 9, 2021 /PRNewswire/ - Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ( Magna or the Company ) is pleased to announce its financial results for the nine months ended December 31, 2020 and year ended March 31, 2020. Unless otherwise stated, all values are stated in US dollars.
Mr. Arturo Bonillas, President & CEO of Magna Gold commented, Magna made significant strides in 2020 and transitioned to a precious metal producer and cash flow generator with the re-commencement of operations at San Francisco, which we acquired in mid-2020. Over the balance of 2020, we deployed capital to refurbish the processing plant, optimize the mine plan, and conduct an accelerated program of waste removal to set up for many successful years ahead. Our team has worked tirelessly to bring the mine to its current stable state and we are delighted to be able to provide our shareholders with pro