Magna Gold Corp V.MGR.H

Metals & Mining Industrial Metals & Minerals

Magna Gold Corp. is a Canada-based gold and silver production company. It is engaged in acquiring, exploring, developing and operating precious metal properties in Mexico. It is advancing its 100% owned flagship San Francisco Mine, its Margarita Silver Project and other highly prospective mineral properties located in Sonora and in Chihuahua. The San Francisco mine is situated in the north central portion of the state of Sonora, Mexico, approximately 150 kilometers (km) north of the state capital city of Hermosillo. The project covers approximately 47,395 hectares (ha). San Judas is an early-stage exploration property, located 240 km to the northwest of the state’s capital city of Hermosillo and runs along Federal Highway 16, covering a total aggregate area of 2,806 ha. The Mercedes Property consists of two contiguous claims covering an aggregate area of approximately 345 ha located approximately 250 km east-southeast along Federal Highway 16 from the state capital, Hermosillo.

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Magna Gold Corp

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Post by Bobwinson Oct 19, 2021 12:27pm

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Production improving for Q3

Magna reported Q3 production of 19K oz of gold. Strip ratio down dramatically and approaching life of mine projections. With their low gold grades, Magna needs reasonable strip ratios to lower costs and improve efficiencies. Better times are ahead as 25K oz were placed on the heap leach pads. That should result in 21-23K production in Q4. In Q2, 21K was placed on the pad and resulted in the 19K propduction.

Magna has improved dramatically thru 2021. Production has increased each qtr from 7 to 11K to 19K. Company reiterates guidance of 55K to 65K for 2021.

https://finance.yahoo.com/news/magna-gold-reports-q3-2021-110000424.html

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