TORONTO, April 13, 2021 /PRNewswire/ – Magna Gold Corp.
Magna continues to see growth in production post Q1 2021 and anticipates the mine will return to full scale commercial production by June 2021, starting H2 at a production run rate of over 6,000 ounces per month and exiting the year with over 7,500 ounces per month, resulting in meaningful growth to sustained free cash flow generation.
Mr. Arturo Bonillas, President & CEO of Magna commented, “We are extremely proud of our progress at San Francisco – our team has made considerable progress during ramp-up and we are well on our way to establishing San Francisco as a stable free cash flow generator.
Magna is a mineral exploration company focused on acquiring, exploring, developing and operating quality precious metals properties in Mexico.
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, and those risks set out in the Company’s public documents filed on SEDAR.