MAG Silver reports preliminary 2024 Juanicipio guidance

MAG Silver reports preliminary 2024 guidance for the high-grade Juanicipio Mine jointly owned by Fresnillo plc (56%) and MAG (44%). Highlights: Robust silver head grade: As reported by Fresnillo, the project operator, silver head grade at Juanicipio is expected to range between 380 grams per tonne and 420 g/t for 2024, translating to significant silver production potential. Nameplate capacity: The plant is anticipated to operate at nameplate capacity per operating day with an effective utilization of 91%, ensuring consistent and efficient production. Technical report on track: MAG remains on schedule to publish its updated technical report by the end of Q1 2024, providing more definitive guidance and solidifying our outlook for the Juanicipio Mine “Following a very successful start-up and ramp-up phase in 2023, the Juanicipio Mine is now operating at steady-state with robust silver grades and operations beginning to benefit from increasing efficiencies,” said George Paspalas, President and CEO of MAG. “With the release of our updated technical report on the horizon, we’re eager to paint an even clearer picture of the exciting future ahead for Juanicipio and MAG Silver.”