Magna Gold Corp. , announces that it has entered into an amending agreement in respect of the secured promissory note and guaranty dated February 11, 2021 previously issued by Magna's subsidiary, Molimentales del Noroeste, S.A. , in favour of Auramet International LLC , an arm's length third party. The amendments to the Note provide for, among [...]
Magna Gold Corp. , deeply regrets to report a fatal accident involving three employees at its San Francisco Mine on February 15, 2022. The accident occurred at approximately 11:30 a.m. local time on February 15, 2022. Three mine employees were in the fine ore storage area when a cave-in occurred. The Company activated its safety protocols with the [...]
Magna Gold Corp. is pleased to report it achieved its previously stated production guidance for the fiscal year 2021. The Company produced 56,099 oz of gold from its San Francisco Mine in Sonora, Mexico in 2021. In Q4 2021, the mine produced 15,499 oz of gold, which represents a production increase of 107% from the same quarter in 2020. Preliminary [...]
Magna Gold Corp. , is pleased to report Q3 2021 production of 19,102 oz gold at an estimated cash cost of $1,134, from its San Francisco Mine in Sonora, Mexico. This represents a quarter over quarter production increase of 63%. Additionally, the strip ratio during the quarter was 2.62 which continues to trend towards the life of mine average of [...]
Magna Gold Corp. announced today that, pursuant to the Company's stock option plan, it has granted a total of 1,000,000 stock options to officers and employees of the Company. Each option is exercisable at CAD $0.90 per common share of the Company until September 3, 2026 with the stock options vesting immediately. The closing price of the Company's [...]
Magna Gold Corp. is pleased to announce, further to its announcements on May 13, 2021 and August 9, 2021, that the Company has closed the previously-announced private placement C$10,000,000 convertible debentures . Funds managed by Delbrook Capital Advisors Inc. subscribed for C$10,000,000 aggregate principal amount of Debentures, for aggregate [...]
Magna Gold Corp. is pleased to provide an update to its previously announced non-brokered private placement of C$10,000,000 convertible debentures with Delbrook Capital Advisors Inc. . The principal amount of the Debentures is convertible, at the election of Delbrook, into common shares of the Company at a conversion price of C$1.25 per common [...]
Magna Gold Corp. , is pleased to report June 2021 production of 5,398 oz gold a record to date. Additionally, the strip ratio for the month of June was 2.9, another record for the company. Q2 2021 gold production was 11,713 ounces at its San Francisco Mine in Sonora, Mexico. Gold sold during the quarter was 11,777 ounces at an average realized gold [...]
Magna Gold Corp. , is pleased to announce it has achieved full-scale and steady state commercial production at its 100% owned flagship San Francisco Mine, located in Sonora, Mexico. Commercial production was achieved on schedule on June 1, 2021, as outlined in the Company's press release dated April 13, 2021. Furthermore, the Company is on track to [...]
Magna Gold Corp. is pleased to announce the achievement of a significant milestone. The San Francisco Mine has exceeded three million man-hours of work without lost-time incidents within all its operations, including contractors and suppliers. The last lost-time incident was in September 2018. In addition, the San Francisco Mine has never had an [...]
Magna Gold Corp. is pleased to announce a non-brokered private placement of CAD$10,000,000 secured convertible debentures with Delbrook Capital Advisors Inc. on behalf of funds managed by Delbrook. The Debentures mature in 24 months from issuance and bear interest at a rate of 6.5% per year. The principal amount of the Debentures is convertible, at [...]
Magna Gold Corp. is pleased to announce the payment of US$5,000,000 to Argonaut Gold Inc. in relation to the acquisition of the San Francisco Mine. Pursuant to a definitive share purchase agreement dated March 5, 2020, as amended April 24, 2020, between Mexican subsidiaries of Argonaut and Magna for the acquisition of the San Francisco Mine, Magna [...]
