MAG Silver (MAG) GlobeNewswire News Room·2025-03-24 11:00Core Viewpoint - MAG Silver Corp. reported strong financial results for the year ended December 31, 2024, with significant contributions from the Juanicipio mine, leading to increased net income and cash flow, alongside the declaration of inaugural dividends to shareholders [2][29]. Financial Performance - The company reported a net income of 0.75 per share, driven by income from the Juanicipio mine of 186,734 [2][29]. - Total sales for the year reached 442,288 in 2023, attributed to higher metal volumes and realized prices [20][21]. - The company declared a total dividend of 0.02 and a cash flow-linked dividend of 18,604 to shareholders [2][29]. Operational Highlights - Juanicipio processed 1,328,178 tonnes of ore with a silver head grade of 468 g/t, achieving silver production of 18.6 million ounces [2][12]. - The mine maintained strong cost performance with a cash cost of 5.54 per silver ounce sold [16][18]. - Silver metallurgical recovery improved to 93% from 87% in 2023, reflecting operational optimizations and the commencement of commercial concentrate production [15][16]. Exploration and Development - The updated technical report on Juanicipio indicated a 33% increase in mineral resources since the 2017 assessment, with a declared mineral reserve estimate of 15.4 million tonnes at a grade of 628 g/t equivalent silver [2][12]. - Ongoing exploration at the Deer Trail Project and Larder Project has shown promising results, including significant extensions of mineralization and new high-grade discoveries [11][12]. Future Guidance - For 2025, silver production at Juanicipio is forecasted to be between 14.7 million and 16.7 million ounces, with cash costs expected to range from 1.00 per silver ounce sold [2][3]. - Sustaining capital expenditures for 2025 are estimated between 80,000, with expansionary capital expenditures projected between 28 million [3][6].