The Prospector News

MAG Silver Secures US$40 Million Revolving Credit Facility

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

MAG Silver Secures US$40 Million Revolving Credit Facility

 

 

 

 

 

MAG Silver Corp. (TSX:MAG) (NYSE American: MAG) is pleased to report the signing of a binding commitment letter with the Bank of Montreal for a fully underwritten US$40 million revolving credit facility (the “Facility”). Closing of the Facility is expected to occur by mid-December 2021 and is subject to the satisfaction of customary conditions, and completion of definitive documentation.

 

The Facility has a maturity date of December 31, 2024 and will be available for working capital and general corporate purposes, and provides MAG with additional liquidity and financial flexibility for its 44% share of the Juanicipio development and exploration costs should it be needed.

 

“We are very pleased to enter into a credit relationship with BMO, a leading financial institution in Canada,” said Mr. George Paspalas, President and CEO of MAG. “This $40 million facility bolsters our liquidity and increases our financial strength as we ramp up at Juanicipio and transition to commercial production.”

 

About MAG Silver Corp.

 

MAG Silver Corp. is a Canadian development and exploration company focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district scale, silver-dominant projects in the Americas. Its principal focus and asset is the Juanicipio Project (44%), being developed with Fresnillo Plc (56%), the operator. The project is located in the Fresnillo Silver Trend in Mexico, the world’s premier silver mining camp, where Fresnillo as operator, is currently developing an underground mine and constructing a 4,000 tonnes per day processing plant expected to be commissioned by the end of 2021. Underground mine production of development material commenced in Q3 2020, and an expanded exploration program is in place targeting multiple highly prospective targets at Juanicipio. MAG is also executing a multi-phase exploration program at the Deer Trail 100% earn-in project in Utah.

 

Posted November 15, 2021

Share this news article

MORE or "UNCATEGORIZED"


Impact Silver Intersects 18.03% ZnEq over 2.60m Including 23.70% ZnEq over 0.73m at the Plomosas Mine

IMPACT Silver Corp. (TSX-V: IPT) (OTCQB: ISVLF) (FSE: IKL) is ple... READ MORE

July 29, 2025

Surge Copper Announces Closing of $5.9 Million Private Placement and Provides Update on Concurrent Strategic Investment

Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) (Frankfurt: G6D2)... READ MORE

July 29, 2025

Opus One Gold Obtains 1.98 g/t Gold Over 11.9 m From Hole NO-25-21, at 400 Vertical Meters on Its Zone 1 Gold Discovery, Noyell Project

Opus One Gold Corp (TSX-V: OOR) is pleased to announce that dril... READ MORE

July 29, 2025

Silver Mountain Completes Oversubscribed $25 Million Bought Deal Prospectus Offering

Silver Mountain Resources Inc. (TSX-V: AGMR) (OTCQB: AGMRF), is... READ MORE

July 29, 2025

Mandalay Discovers New High-Grade Gold Trend at Brunswick South, Adjacent to Existing Costerfield Infrastructure

Mandalay Resources Corporation (TSX: MND) (OTCQB: MNDJF) reports ... READ MORE

July 29, 2025

Copyright 2025 The Prospector News