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.
Operator
Thank you for joining us this morning. Welcome to the Pretium Resources First Quarter 2021 Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation there will be an opportunity to ask questions. The conference call today is being webcast live and available along with the presentation slides on Pretium s website at pretivm.com.
I would now like to turn the call over to Mr. Jacques Perron, Pretium s President and CEO.
Please go ahead.
President, Chief Executive Officer and Director
Thank you. Good morning everyone. Welcome to our first quarter 2021 operating and financial results conference call. The first quarter of 2021 has proven to be very challenging, but thanks to the dedication of our team, the support of our contractors the contributions of our First Nation community partners, our healthcare provider Iridia Medical and BC Northern Health operations continued throughout this COVID outbreak
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