On the path to profitability
Magna is a Canadian gold company engaging in operations, development, exploration, and acquisition in Mexico. Its primary asset is the San Francisco Gold Mine in Sonora, Mexico. The Company also has exploration stage projects that include San Judas, La Pima and Mercedes.
Furthermore, one of Magna’s primary strengths is its team of highly experienced mining professionals. In fact, they have a proven track record of developing properties in Mexico from discovery to production on budget and on time.
Magna’s growth strategy is to acquire early or advanced stage mineral deposits through its extensive network of contacts. They then consolidate these properties enhancing shareholder value.
Moreover, the Company will initiate low capex, low cost operations early in the life of the project to internally fund the advancement of the resources in the acquired districts while minimizing shareholder dilution.
The San Francisco Gold Mine
The San Francisco mine commenced operations in 2010 and has produced over 820,000 ounces of gold. Additionally, the mine sits in the north central portion of the state of Sonora, Mexico, approximately 150 kilometers (km) north of the state capital city of Hermosillo. The project comprises of two previously mined open pits (San Francisco and La Chicharra), together with heap leach processing facilities, and associated infrastructure located close to the San Francisco pit.
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