Why MAG Silver Stock Rocketed 16% on Monday [The Motley Fool]
MAG Silver Corporation Ordinary Shares (MAG)
Last mag silver corporation ordinary shares earnings: 11/8 06:37 am
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US:NASDAQ Investor Relations:
magsilver.com/s/investorrelations.asp
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Source: The Motley Fool
Reuben Gregg Brewer(TMFReubenGBrewer)Author BioReuben Gregg Brewer believes dividends are a window into a company's soul. He tries to invest in good souls.What happenedShares of Canadianjunior silver minerMAG SilverNYSEMKT:MAGCOVID-9So whatMAG Silver isn't actually much of a miner at this point. That's not meant as a slight, just to highlight the fact that it is still building its first mine, the Juanicipio Project in Mexico. It's a joint venture with Fresnillo plc, which operates the project. MAG Silver owns a 44% stake in Juanicipio. As noted, progress on the mine has slowed due to social distancing restrictions in that country. That's not great, since it will delay completion of the project, but it doesn't actually impact revenues, since the mine isn't producing any silver. In fact, MAG Silver's income statement hasn't had any income for the last two years, just expenses.Image source: Getty Images.That's not unusual in situations like these, but it costs a lot of money to build a m
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