Magna Gold: A Track Record of Success
A cash generating company in 2020
Magna Gold is Mexico’s newest gold and silver producer. The Canadian company is a precious metals company engaged 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 and Mercedes gold projects as well as La Pima and Margarita silver projects. Furthermore, Magna was a cash-generating company in 2020. They also expect to produce 55 to 65 thousand ounces of gold in 2021.
Magna’s San Francisco mine
The San Francisco mine commenced operations in 2010 and has produced over 820,000 ounces of gold. The mine is situated 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 is comprised 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. Currently, the leach pads are on a residual leach cycle with no mining being conducted.
Magna restarted mining and processing operations during Q3 2020.
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