Subscribe Now - Click Here:       1 Year for only $149   or   3 months for $99

Category: Junior: Near-term Producer
Rating: 2.00   (Potential 3 Bagger as of 05/08/2017)
Risk: Moderate
MAG Silver Corp
www: www.magsilver.com     email: info@magsilver.com

Profile
Notes
Forum
Your Data

Price Data

Symbol Date Price Change 52 Wk Range Volume
NYSEMKT:MAG 05/23/2017 USD 11.650 -0.510 18.120 - 9.500 0
TSE:MAG 05/23/2017 CAD 15.7500 -0.4800 23.3200 - 12.7500 285,572
Alert me when stock is updated

Don's Summary (from last analysis - 05/08/2017)

Mag Silver has an excellent late stage project in Mexico. Their Juanicipio project is a JV with Fresnillo and they have a 44% interest. Production should begin in 2018 and it has a 15 year mine life (likely to be increased). Mag's share will be about 5 million oz of annual silver production (more the first 5 years) at close to zero cash costs. At $50 silver they will have $200 million in cash flow for 15 years. The zero costs are from offsets in gold, zinc, and lead. Juanicipio is very high grade (10 to 15 opt) and a high silver recovery rate (94%). The capex is only $300 million and Fresnillo will pay for 56% and is the operator. Mag's share of the capex is $132 million and they have $139 million in cash.

They will have zero debt and high cash flow. What are they going to do with all of that money? First, they will have a high dividend. Second, they will buy projects and become a growth stock.

They have an extensive pipeline of projects and are drilling several: Salamandra, Cinco de Mayo, Pozo Seco, Jose Manto, Mojina, and La Esperansa. The odds are very good they will build a few more mines. Mag Silver has the potential to be a very large company. Their only red flag is that they are pricey and we don't know how big they will get.

This stock has exploded to a FD market cap of $933 million. That's one of the highest valuations for a non-producer. In the near term they will need to grow through an acquisition, because they currently do not have any other advanced projects. I like it as a combination income and growth stock.

General Details

Financial 05/08/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (Fully Diluted): $933.75M $966.95M 05/08/2017 $33.20M
Total Assets: $177.24M $177.24M 05/08/2017 $0.00M
Total Liabilities: $1.32M $1.32M 05/08/2017 $0.00M
Current Assets: $139.87M $139.87M 05/08/2017 $0.00M
Current Liabilities: $0.73M $0.73M 05/08/2017 $0.00M
Total Debt: $0.00M $0.00M 05/08/2017 $0.00M
Cash: $139.06M $139.06M 05/08/2017 $0.00M
Enterprise Value: $794.69M $827.89M 03/26/1996 $33.20M
Cash Flow: $0.00M $0.00M never $0.00M
Cash Flow Multiple: 0.00 0.00 never 0.00
Net Debt to Cash Flow Ratio: n/a n/a never 0.00
Finance within 1 year: 05/08/2017 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 05/08/2017 0.00%
Misc 05/08/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Share Price: $11.250 $11.650 16:05 on 05/23/2017 $0.40
Shares Outstanding: 81,000,000 81,000,000 05/08/2017 0
Shares Fully Diluted: 83,000,000 83,000,000 05/08/2017 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Silver Mostly Silver never n/a
Production ETA: n/a 01/01/2017 05/08/2017 n/a
Production (Gold Eq Oz.): (guess) 
0
(guess) 
0
05/08/2017 0
Production (Silver Eq Oz.): (guess) 
0
(guess) 
0
05/08/2017 0
Initial CapEx (Outstanding): $132.00M
14.14% of Mkt.Cap
$132.00M
13.65% of Mkt.Cap
05/08/2017 $0.00M
Funding Option: n/a n/a 05/08/2017 n/a
Documentation: none PEA 05/08/2017 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 05/08/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 05/08/2017 0.00M
Measured & Indicated: n/a n/a 05/08/2017 0.00M
Inferred: n/a n/a 05/08/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 05/08/2017 0.00M
Measured & Indicated: n/a n/a 05/08/2017 0.00M
Inferred: n/a n/a 05/08/2017 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 05/08/2017 $0.00
Extra Operating Cost: n/a n/a 05/08/2017 $0.00
Average Grade: n/a n/a 05/08/2017 n/a
Recovery Rate: n/a n/a 05/08/2017 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 05/08/2017 0.00M
Annual Production: n/a n/a 05/08/2017 n/a
Cash Cost: n/a n/a 05/08/2017 n/a
Extra Operating Cost: n/a n/a 05/08/2017 n/a
SILVER 05/08/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 05/08/2017 0.00M
Measured & Indicated: 55.00M 55.00M 05/08/2017 0.00M
Inferred: 80.00M 80.00M 05/08/2017 0.00M
Reserves & Resources: 135.00M 135.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 05/08/2017 0.00M
Measured & Indicated: 41.80M 41.80M 05/08/2017 0.00M
Inferred: 38.00M 38.00M 05/08/2017 0.00M
Reserves & Resources: 79.80M 79.80M never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 05/08/2017 $0.00
Extra Operating Cost: n/a n/a 05/08/2017 $0.00
Average Grade: 300.00 g/t 300.00 g/t 05/08/2017 n/a
Recovery Rate: (CG)  95.00% (CG)  95.00% 05/08/2017 0.00%
F
U
T
U
R
E
Proven & Probable: 100.00M 100.00M 05/08/2017 0.00M
Annual Production: 7,000,000oz. 7,000,000oz. 05/08/2017 0oz.
Cash Cost: $2 $2 05/08/2017 $0
Extra Operating Cost: $7 $7 05/08/2017 $0

Property

Last Analysis Data  (05/08/2017)
Stage Location Name Owned Type Au Ag Cu Notes
Exploration Chihuahua, Mexico Batopilas 100% n/a n/a
Exploration Chihuahua, Mexico Cinco de Mayo 100% n/a n/a
Exploration Chihuahua, Mexico Guigui 100% n/a n/a
Exploration Fresnillo, Mexico Juanicipio 44% n/a show
Large high grade JV with Fresnillo. 44% interest. $132 capex (their share). Zero cash costs projected. 4.5 million oz of production (their share).
Exploration Durango, Mexico La Esperanza 0% n/a n/a
Exploration Guanajuato, Mexico La Lorena 100% n/a n/a
Exploration Zacatecas, Mexico Lagartos 100% n/a n/a
Exploration Chihuahua, Mexico Mojina 0% n/a n/a
Exploration Zacatecas, Mexico Nuevo Mundo 100% n/a n/a
Current Data
Stage Location Name Owned Type Au Ag Cu Notes
Exploration Chihuahua, Mexico Batopilas 100% n/a n/a
Exploration Chihuahua, Mexico Cinco de Mayo 100% n/a n/a
Exploration Chihuahua, Mexico Guigui 100% n/a n/a
Exploration Fresnillo, Mexico Juanicipio 44% n/a show
Large high grade JV with Fresnillo. 44% interest. $132 capex (their share). Zero cash costs projected. 4.5 million oz of production (their share).
Exploration Durango, Mexico La Esperanza 0% n/a n/a
Exploration Guanajuato, Mexico La Lorena 100% n/a n/a
Exploration Zacatecas, Mexico Lagartos 100% n/a n/a
Exploration Chihuahua, Mexico Mojina 0% n/a n/a
Exploration Zacatecas, Mexico Nuevo Mundo 100% n/a n/a

Profitability (by resource)

Proven &
Probable
05/08/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: n/a n/a n/a $0.00M
Max Profit / Current MCap: n/a n/a n/a 0.000
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: n/a n/a n/a $0.00
Total Free Profit Per Share: n/a n/a n/a $0.00
FD Mkt. Cap / Gold Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Silver Eq.: n/a n/a n/a $0.00
FD Mkt. Cap / Per Metal
as % Spot Price:
n/a n/a n/a 0.00%
Measured &
Indicated
05/08/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.02M
Total (Silver Eq. Oz.): 55.00M 55.00M n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.02M
Silver Eq. Oz.: 41.80M 41.80M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $210.96M $236.42M n/a $25.46M
Total Maximum Profit: $210.96M $236.42M n/a $25.46M
Max Profit / Current MCap: 0.226 0.245 n/a 0.019
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $2.54 $2.85 n/a $0.31
Total Max Profit Per Share: $2.54 $2.85 n/a $0.31
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $1,689.65 $1,696.09 n/a $6.44
FD Mkt. Cap / Silver Eq.: $22.34 $23.13 n/a $0.79
FD Mkt. Cap / Per Metal
as % Spot Price:
137.81% 135.44% n/a -2.37%

Reserves &
Resources
05/08/2017
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: n/a n/a n/a 0.00%
Percentage Silver: 100.00% 100.00% n/a 0.00%
Total (Gold Eq. Oz.): n/a n/a n/a 0.06M
Total (Silver Eq. Oz.): 135.00M 135.00M n/a 0.00M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: n/a n/a n/a 0.03M
Silver Eq. Oz.: 79.80M 79.80M n/a 0.00M
Maximum Profit (Gold): n/a n/a n/a $0.00M
Maximum Profit (Silver): $402.75M $451.35M n/a $48.60M
Total Maximum Profit: $402.75M $451.35M n/a $48.60M
Max Profit / Current MCap: 0.431 0.467 n/a 0.035
Max Profit Per Share (Gold): n/a n/a n/a $0.00
Max Profit Per Share (Silver): $4.85 $5.44 n/a $0.59
Total Max Profit Per Share: $4.85 $5.44 n/a $0.59
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $885.06 $888.43 n/a $3.37
FD Mkt. Cap / Silver Eq.: $11.70 $12.12 n/a $0.42
FD Mkt. Cap / Per Metal
as % Spot Price:
72.18% 70.94% n/a -1.24%

Future Valuation (Cash Flow & Totals)

Totals 05/08/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
C
U
R
R
E
N
T
R & R Valuation: $194.03M $204.45M n/a $10.41M
Mkt. Cap: $933.75M $966.95M n/a $33.20M
Annual Gold Production: n/a n/a 0oz.
Annual Silver Production: n/a n/a 0oz.
F

U

T

U

R

E
FD Mkt. Cap: $1,500.00M $1,500M n/a $0M
FD Mkt. Cap Growth: 61% 55% n/a -6%
Annual
Production
Gold: n/a n/a n/a n/a
Silver: 7,000,000 oz. 7,000,000 oz. n/a 0 oz.
Current FD
Mkt. Cap /
Gold Eq. Reserves: 233.44 241.74 n/a 8.30
Silver Eq. Reserves: 9.34 9.67 n/a 0.33
Gold Eq. Production: 3,334.82 3,453.39 n/a 118.57
Silver Eq. Production: 133.39 138.14 n/a 4.74
P&P
Reserves
(oz.)
Gold: n/a n/a 05/08/2017 n/a
Silver: 100.00M 100.00M 05/08/2017 n/a
Gold Eq.: 4.00M 4.00M 05/08/2017 n/a
Silver Eq.: 100.00M 100.00M 05/08/2017 n/a
P&P Reserves
per FD
Share (oz.)
Gold: n/a n/a n/a n/a
Silver: 1.205 1.205 n/a n/a
Gold Eq.: 0.048 0.048 n/a n/a
Silver Eq.: 1.205 1.205 n/a n/a
Cash Flow 05/08/2017
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Current: $0.00M $0.00M n/a $0.00M
Current Multiple: 0.00 0.00 n/a 0.00
F
U
T
U
R
E
@ current prices: $30.28M $33.94M n/a $3.65M
Multiple @ current prices: 30.84 28.49 n/a -2.34
Growth @ current prices: 0.00% 0.00% n/a 0.00
@ future prices: $382.20M $382.20M n/a $0.00M
Multiple @ future prices: 2.44 2.53 n/a 0.09
Growth @ future prices: 0.00% 0.00% n/a 0.00

Defaults

We use cookies on this website. By using this site, you agree that we may store and access cookies on your device. Find out more here.     ×