Magna Gold Corporation (CE) (MGLQF) Quote

MGLQF: inactive security. FINRA deleted symbol:

https://otce.finra.org/otce/dailyList?viewType=Deletions

This is what happens when the help thinks they can do what the white man does!
https://magnagoldcorp.com/news/magna-gold-q3-2022-operating-and-financial-results-

It was uneconomical at 50% higher grade! Why do you think previous management dropped the property when you shoved that ESG stick up your ass?

They are still losing money due to the stream contract and sprott fees!

With fuel prices where they are, they should scale back the tonns until there is a significant price break in oil!

Earnings are out:

Quarterly Report:

https://www.sedar.com/GetFile.do?lang=EN&docClass=5&issuerNo=00044868&issuerType=03&projectNo=03391494&docId=5216770

Press Release:

https://www.sedar.com/GetFile.do?lang=EN&docClass=8&issuerNo=00044868&issuerType=03&projectNo=03391476&docId=5216769


Q1 2022 Operating and Financial Results
TORONTO, May 27, 2022 /CNW/ - Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ("Magna"
or the "Company"), today announced operating and financial results for the three months ended
March 31, 2022 and 2021 ("Q1 2022" and "Q1 2021", respectively). All figures are in US Dollars,
unless otherwise expressed.
Q1 2022 Operating and Financial Highlights
Total tonnes mined during Q1 2022 were 7.3 million compared to 5.8 million during Q1 2021.
This is an increase of 26%.
Q1 2022 strip-ratio was 6.7:1 compared to 8.4:1 during Q1 2021.
Tonnes of ore processed during Q1 2022 were 1.4 million compared to 0.7 million during Q1
2021. This is an increase of 90%.
Gold production increased 21% with 11,874 ounces produced during Q1 2022 compared to
9,785 ounces produced during Q1 2021.
Revenue for Q1 2022 increased 54% to $23.5 million compared to $15.3 million during Q1
2021, mainly due to the San Francisco Mine achieving steady state commercial production at
the end of Q2 2021.
Production costs of $21.3 million during Q1 2022 compared to $15.6 million during Q1 2021.
The 37% increase is due to larger tonnage mined and higher processing rates achieved.
Net loss was $3.3 million ($0.04 per share) during Q1 2022 compared to $3.4 million ($0.04 per
share) during Q1 2021.
Cash flow from operations during Q1 2022 was $6.6 million compared to $4.7 million during Q1
2021.
Cash cost per gold ounce
(1) decreased 8% to $1,675 during Q1 2022 from $1,826 during Q1
2021.
Site all-in sustaining cost per gold ounce
(1) decreased 18% to $2,467 during Q1 2022
compared to $3,003 during Q1 2021.
Arturo Bonillas, President and CEO of Magna stated: "I am very pleased to see the San Francisco
Mine maintain a steady state of operations for three consecutive quarters now. As demonstrated by
our results, strip ratio and cash cost continue to trend downwards from where we were a year ago.
Gold production is in line with our operating plans and is anticipated to increase as production is
expected to be back weighted in 2022."
The financial statements and MD&A for the three months ended March 31, 2022 and 2021, are
available on SEDAR (www.sedar.com) and on the Company's website (www.magnagoldcorp.com).
(1) Cash cost per gold ounce and site all-in sustaining cost per gold ounce are non-GAAP financial
performance measures with no standard definition under IFRS. For more details, refer to the nonGAAP Performance Measures section of the MD&A for the three months ended March 31, 2022 and
2021.
About Magna Gold Corp.
Magna is a Mexico focused gold/silver production company engaged in acquiring, exploring,
developing and operating quality precious metals properties in Mexico. It is committed to advancing
its 100% owned flagship San Francisco Mine, Margarita Silver Project and other highly prospective
mineral properties located in Sonora and in Chihuahua. The primary strength of the Company is the team of highly experienced mining professionals with a proven track record of developing properties
in Mexico from discovery to production. Magna employs community members and services in its
operations.
Based on the NI-43-101 technical report "Pre-Feasibility study for the San Francisco Gold Project,
Sonora, Mexico" prepared by Micon, dated August 8, 2020, San Francisco operations are
estimated to have measured and indicated resources of 99,700,000 tonnes @ 0.446g/t Au
containing 1,430,000 ounces of gold, and inferred resources of 11,374,000 tonnes @ 0.446 g/t
containing 171,000 ounces of gold. The total proven and probable reserves is 47,629,000 tonnes @
0.495 g/t Au containing 758,000 ounces of gold. Mineral resources are inclusive of mineral reserves.
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
ON BEHALF OF THE BOARD OF DIRECTORS
Arturo Bonillas
President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Qualified Person
James Baughman (P. Geo.), Consulting Geologist and a Qualified Person as defined by NI 43-101,
has approved the scientific and technical information in this news release.
Cautionary Statements
This News Release includes certain "forward-looking statements" which are not comprised of
historical facts. Forward-looking statements include estimates and statements that describe the
Company's future plans, objectives or goals, including words to the effect that the Company or
management expects a stated condition or result to occur. Forward-looking statements may be
identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could",
"would", "will", or "plans". Since forward-looking statements are based on assumptions and
address future events and conditions, by their very nature they involve inherent risks and
uncertainties. Although these statements are based on information currently available to the
Company, the Company provides no assurance that actual results will meet management's
expectations. Risks, uncertainties and other factors involved with forward-looking information could
cause actual events, results, performance, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking information. Forward-looking information in
this news release includes, but is not limited to, the Company's objectives, goals or future plans,
exploration results, potential mineralization (including estimates of measured and indicated
resources, inferred resources and probable reserves), exploration and mine development plans,
production (including gold production expectations and guidance), processing and mining
expectations (including statements regarding expansion and advancement of assets) and strip ratio
trends and expectations. Factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited to failure to identify mineral resources,
failure to convert estimated mineral resources to reserves, the inability to complete a feasibility
study which recommends a production decision, the preliminary nature of metallurgical test results,
delays in obtaining or failures to obtain required governmental, environmental or other project
approvals, political risks, uncertainties relating to the availability and costs of financing needed in
the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in
commodity prices, delays in the development of projects, capital, operating and reclamation costs
varying significantly from estimates and the other risks involved in the mineral exploration and
development industry, risks related to the effects of COVID-19 on the Company; and those risks
set out in the Company's public documents filed on SEDAR. Although the Company believes that
the assumptions and factors used in preparing the forward-looking information in this news release
are reasonable, undue reliance should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that such events will occur in the
disclosed time frames or at all. The Company disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new information, future events or
otherwise, other than as required by law.
View original content to download multimedia:
https://www.prnewswire.com/news-releases/q1-2022-operating-and-financial-results-301556961.html
SOURCE Magna Gold Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/May2022/27/c8652.html
%SEDAR: 00044868E
For further information: please visit the Company's SEDAR profile at www.sedar.com or the
Company's corporate website at www.magnagoldcorp.com or contact us at telephone +52 (662)
310 0326, email info@magnagoldcorp.com.
CO: Magna Gold Corp.
CNW 17:30e 27-MAY-22

Thanks for the earnings date info

Last year 1st quarter results were released May 31, 2021.

Hit the search button in the form below.

https://www.sedar.com/ModifyCompanyDocumentSearchForm.do?lang=EN&company_search=magna+gold+corp&document_selection=0&industry_group=A&FromDate=19&FromMonth=01&FromYear=2021&ToDate=19&ToMonth=05&ToYear=2022&Variable=Issuer

Looks to me like this stock should be in the 85 cents area by end of this year, 70,000 ounces production at $500 per ounce profit is35million subtract 7.5MM sga and 1.6MM interest exp I get 26 MM cash flow or about .27 per share. .27 times 3 == 81 cents. This company is grossly undervalued. I think $ 2.00 USD within 2 years is probable that is a 7 bagger. I been buying from 40 cents on down and now have my cost under .36 per share. Looking forward to the next quarterly report does anyone have an idea about when it will be released? Please share. Thanks!

https://www.etfdailynews.com/2022/05/05/magna-gold-otcmktsmglqf-given-new-c1-30-price-target-at-desjardins/

https://fox59.com/business/press-releases/cision/20220419TO29873/magna-gold-announces-completion-of-debt-settlement-with-peal-de-mexico-s-a-de-c-v/

https://finance.yahoo.com/news/magna-gold-announces-maiden-estimate-110000002.html

Big dump!
https://www.newswire.ca/news-releases/argonaut-gold-files-early-warning-report-in-respect-of-magna-gold-corp--827090949.html

Not good!
https://www.magnagoldcorp.com/news/magna-gold-reports-fatal-accident-at-san-francisco-mine

Look at the ARGNF 10Q's to get a baseline.

This is all we have from management atm. Finacials late? Don't forget there is a form for that!
https://www.magnagoldcorp.com/_resources/financials/Magna%20Gold%20Mar%202021%20-%20FS%20FINAL.pdf

This last private placement looks an awful lot like death spiral(duck).

Add in covid and the new profit sharing scheme for the onboarded employees in Mexico.

Probably going to struggle till Q1 after 10k.

Valuation Target?

Has anyone on the Board calculated a reasonable valuation target for Magna?

This is how Argonaut sees it.

5. Recievables

(1) On May 6, 2021, the Company entered into an agreement to settle a significant portion of the balance of receivables from
acquisition for total proceeds of $7,675. Upon settlement, the Company recognized a gain on settlement of receivables from
acquisition of $1,751 over the book value of components comprising the receivables from acquisition (note 14). The
Company received $5,000 in cash on the date of settlement and a short-term promissory note in the amount of $2,675 to be
paid in four equal installment payments from July to October 2021. The unsecured short-term promissory note includes an
interest rate of 5.0% per annum. At June 30, 2021, the Company had accrued $22 in accrued interest receivable on the
promissory note.

https://s22.q4cdn.com/115151820/files/doc_financials/2021/q2/Argonaut-Gold,-Inc.-FS-Q2-2021-FINAL.pdf

Hey Sprott, WTF fees are 10x exploration expenditures.

Also, they are short 1096 oz. and need ~$50MM

The large holders are close to pukin' up a bunch of shares soon.

$0.135

Arturo Bonillas:

We two more important shareholders, I call them strategic shareholders. One of them is Argonaut Gold and they hold a 12% position. They inherited approximately 10 million shares as compensation for the mine acquisition. We paid them to Alio Gold then Argonaut Gold acquired Alio. They’re good shareholders, they’re always calling, they’re always checking on how can they help.

^^^From your link^^^

I consider this a default.

https://www.prnewswire.com/news-releases/magna-gold-reports-on-final-payments-for-the-san-francisco-mine-acquisition-301286316.html

6k for the contract
https://sec.report/Document/0001171843-20-003390/

Here is the most comprehensive interview to date on Magna Gold with CEO Arturo Bonillas with Maurice Jackson of Proven and Probable. In video, audio, and transcript: https://provenandprobable.com/magna-gold-the-san-francisco-gold-mine-in-mexico-is-just-the-beginning/

No, this is just the mining crew I believe. Prior management is at Argonaut gold when they merged with Alio.

Same mgmt team that ran Timmins Gold successfully for many years. Same mgmt, same mine, same grade. Expect similar results. You are right about costs. They need to be lower but lower stripping rates will do wonders for costs. We'll see how they do over the rest of the year. I expect continued improvement.

You are at least 3Qs too early. These boys need to prove themselves and their production costs can't keep jumping like it did in this Q.

If their production is steady and consistent, I would expect them to pay a dividend sometime next year.

Good news. Magna would be on track to become a 90K producer if they can produce 7500 oz/month as they are guiding for Q4 exit rate. Still way undervalued. Mine/mill is paid for. How many 90K producers can say that. Grade is low but mine produced profitably at that grade for many years when it was Timmins Gold.




Magna Gold Achieves Full-Scale Commercial Production at San Francisco on Schedule
Tue, June 29, 2021, 4:00 AM

MGLQF
+7.96%
TORONTO, June 29, 2021 /PRNewswire/ - Magna Gold Corp. (TSXV: MGR), (OTCQB: MGLQF) ("Magna" or the "Company") 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 achieve and reiterates its earlier stated 2021 guidance of 55,000 – 65,000 oz of gold ("Au") production.

Magna Gold Corp. logo (CNW Group/Magna Gold Corp.)
Magna Gold Corp. logo (CNW Group/Magna Gold Corp.)
In the first half of the year, the Company completed the necessary pre-stripping and substantially lowered the mine strip ratio from ~8:1 to ~3:1, which is continuing to trend downwards towards the life of mine ("LOM") average of 2.5:1. Moving forward, the Company anticipates further decreases to the strip ratio and increased recovery rates which will lead to cost improvements.

At San Francisco, the Company anticipates a production run rate of ~6,000 Au oz/month in Q3 and looks to exit the year at a run rate of ~7,500 Au oz/month.

Highlights

Completed all necessary pre-stripping to achieve 2.9:1 strip ratio at full-scale commercial operations, which is expected to trend downwards through LOM.

Completed construction of new leach pads and began stacking fresh ore at a steady-state rate of 900 metric tons per hour.

Optimized grind size and leach kinetics improving recovery rates to ~70% with further improvements anticipated over the LOM.

Continues commitment to health and safety, achieving over 3.5 million man-hours without a lost-time incident.

Arturo Bonillas, President and CEO of Magna stated: "We are all extremely proud of the Magna team for achieving this tremendous milestone on schedule. Achieving full-scale commercial production in such a short period of time is a testament to the hard work and quality of our Mexico-based operations team and as a company, we have demonstrated our ability to execute on all our target deliverables. Production numbers are trending upwards month-to-month, and we anticipate exiting the year producing ~7,500 Au oz/month. We are continuing our systematic exploration efforts as we look to grow the Company into a mid-tier producer."

About Magna Gold Corp
Magna is a Mexico focused gold/silver production company focused on acquiring, exploring, developing and operating quality precious metals properties in Mexico. It is committed to advancing its 100% owned flagship San Francisco Mine and other highly prospective mineral properties located in Sonora and in Chihuahua. The primary strength of the Company is the team of highly experienced mining professionals with a proven track record of developing properties in Mexico from discovery to production. Magna employs community members and services in its operations.

As of August 8, 2020 (NI 43-101 F1 Technical Report Pre-feasibility study for the San Francisco Gold Project), San Francisco operations are estimated to have measured and indicated resources of 99,700,000 tonnes @ 0.446g/t Au containing 1,430,000 ounces of gold, and inferred resources of 11,374,000 tonnes @ 0.446 g/t containing 171,000 ounces of gold. The total proven and probable reserves is 47,629,000 tonnes @ 0.495 g/t Au containing 758,000 ounces of gold. Mineral resources are inclusive of mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

ON BEHALF OF THE BOARD OF DIRECTORS

Arturo Bonillas

President and CEO

You have some potential dilution and large payments coming up. Also the grade is still barely there!

actual producer of gold... this could run up a bit -- compared to LRTNF its underpriced or LRTNF is over priced
During the first two months of operations, the San Francisco Mine reported sales of US$8.53 million and operating costs of US$3.77 million with an operating margin of US$4.76 million. The Company produced 5,087 ounces of gold and sold 4,977 ounces of gold at an average cost of US$741 per ounce of gold produced and an average cost of $758 per ounce of gold sold. Gold production in May was 2,349 ounces and in June reached 2,738 ounces.

Cash at the end of June at the San Francisco Mine was US$8.4 million

New Option agreement.
https://www.magnagoldcorp.com/news/magna-gold-corp-to-acquire-los-muertos-silver-project

Operational update July 9, 2020
https://www.magnagoldcorp.com/news/magna-gold-corp-provides-operating-update

Suspension of non-essential businesses continued till May 30th.

http://www.dof.gob.mx/nota_detalle.php?codigo=5592067&fecha=21/04/2020

Kitco News: Gold market

Mine Stopage?

http://www.dof.gob.mx/nota_detalle.php?codigo=5590914&fecha=31/03/2020

https://www.aliogold.com/news/news-releases/alio-gold-announces-sale-of-san-francisco-mine

https://ih.advfn.com/stock-market/AMEX/alio-gold-ALO/stock-news/82111871/argonaut-gold-and-alio-gold-announce-friendly-at-m