{"id":1180711,"date":"2020-04-27T11:23:29","date_gmt":"2020-04-27T16:23:29","guid":{"rendered":"https:\/\/www.mining.com\/?p=1021847"},"modified":"2020-04-27T11:23:29","modified_gmt":"2020-04-27T16:23:29","slug":"mag-silver-stock-skyrockets-on-sprott-investment","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1180711","title":{"rendered":"MAG Silver stock skyrockets on Sprott investment"},"content":{"rendered":"<p>MAG Silver Corp. (TSX: MAG) <a aria-label=\"announced on Monday (opens in a new tab)\" rel=\"noreferrer noopener\" href=\"https:\/\/magsilver.com\/news\/mag-silver-announces-a-60-million-private-placement\/\" >announced on Monday<\/a> it has arranged a non-brokered private placement with mining investor Eric Sprott, offering approximately 4.53 million common shares of the company at a price of C$13.25 per share for gross proceeds of C$60 million.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Shares of MAG skyrocketed more than 17% during Monday&#8217;s morning session to a six-month high of C$16.08 per share. The Vancouver-based silver miner has a market capitalization of C$1.39 billion.<\/p>\n<p>MAG intends to use the net proceeds of the financing for its Juanicipio project in Mexico, as well as working capital and general corporate purposes.<\/p>\n<p>Juanicipio is a joint venture project in which MAG owns a 44% interest, with Fresnillo, the world&#8217;s largest silver miner, holding the remaining 56%. The property is located in Zacatecas state, 8 kilometres away from the Fresnillo underground mine which has been producing silver for more than five centuries.<\/p>\n<p>Fresnillo, as operator, is currently constructing and developing the surface and underground infrastructure on the property to support a 4,000-tonne-per-day mining operation. <\/p>\n<p>Earlier this year, Fresnillo <a aria-label=\"brought forward (opens in a new tab)\" rel=\"noreferrer noopener\" href=\"https:\/\/www.mining.com\/fresnillo-to-kick-off-production-at-juanicipio-ahead-of-schedule\/\" >brought forward<\/a> the anticipated production start date of the silver-gold project to mid-2020. Once operational, the mine is expected to produce 11.7 million ounces of silver and 43,500 ounces of gold annually over an initial 12-year mine life.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares exploded to a six-month high on the C$60 million private placement.<\/p>\n","protected":false},"author":88,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369,4],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1180711"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/88"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1180711"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1180711\/revisions"}],"predecessor-version":[{"id":1180723,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1180711\/revisions\/1180723"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1180711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1180711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1180711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}