San Francisco Mining Exchange

Magna Gold and its Subsidiary Obtain Creditor Protection and Announce Transfer to NEX

Retrieved on:

Friday, March 3, 2023

Bankruptcy and Insolvency Act, Rudy Distrito, San Francisco Mining Exchange, San Francisco, TSX Venture Exchange, MGR, Bankruptcy, Sale, NOI, Florida Second District Court of Appeal, Security (finance)

The effect of the NOI is an initial and immediate stay of proceedings in favour of Magna Gold for 30 days, which stay can be extended by court order.

Key Points:

The effect of the NOI is an initial and immediate stay of proceedings in favour of Magna Gold for 30 days, which stay can be extended by court order.
As noted, Magna Gold is seeking to restructure; not liquidate.
The decision to seek creditor protection for Magna Gold and Molimentales was made after careful consideration of the Company's cash position, scheduled debt payments, forecast revenue and expenses and all available alternatives.
No directors of Magna Gold have resigned and the board of directors continues to be comprised of six directors.

Q3 2022 Operating and Financial Results

Retrieved on:

Tuesday, November 29, 2022

Technical report, COVID-19, Magna, San Francisco Mining Exchange, Multimedia, TSX Venture Exchange, Gold, MD, SEDAR, News, Mining, Video news release, Failure, Silver, Lithium, Potash, Risk management

TORONTO, Nov. 29, 2022 /PRNewswire/ - Magna Gold Corp. (TSXV: MGR) (OTCPINK: MGLQF) ("Magna" or the "Company"), today announced operating and financial results for the three and nine months ended September 30, 2022 and 2021 ("Q3 2022" and "Q3 2021", respectively).

Key Points:

TORONTO, Nov. 29, 2022 /PRNewswire/ - Magna Gold Corp. (TSXV: MGR) (OTCPINK: MGLQF) ("Magna" or the "Company"), today announced operating and financial results for the three and nine months ended September 30, 2022 and 2021 ("Q3 2022" and "Q3 2021", respectively).
Total tonnes mined during Q3 2022 were 3.2 million compared to 6.2 million during Q3 2021.
Tonnes of ore processed during Q3 2022 were 1.1 million compared to 1.8 million during Q3 2021.
Gold production of 9,256 ounces during Q3 2022 compared to 19,102 ounces during Q3 2021.

Magna Gold Corp. - Q2 2022 Operating and Financial Results

Retrieved on:

Tuesday, August 30, 2022

TORONTO, Aug. 29, 2022 /PRNewswire/ -Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ("Magna" or the "Company"), today announced operating and financial results for the three and six months ended June 30, 2022 and 2021 ("Q2 2022" and "Q2 2021", respectively).

Key Points:

TORONTO, Aug. 29, 2022 /PRNewswire/ -Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ("Magna" or the "Company"), today announced operating and financial results for the three and six months ended June 30, 2022 and 2021 ("Q2 2022" and "Q2 2021", respectively).
Tonnes of ore processed during Q2 2022 were 1.4 million compared to 1.3 million during Q2 2021.
Gold production of 10,795 ounces during Q2 2022 compared to 11,713 ounces during Q2 2021.
Revenues for Q2 2022 were $21.0 million compared to $21.2 million during Q2 2021.

Q1 2022 Operating and Financial Results

Retrieved on:

Friday, May 27, 2022

TORONTO, May 27, 2022 /PRNewswire/ - 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).

Key Points:

TORONTO, May 27, 2022 /PRNewswire/ - 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).
Tonnes of ore processed during Q1 2022 were 1.4 million compared to 0.7 million during Q1 2021.
Gold production increased 21% with 11,874 ounces produced during Q1 2022 compared to 9,785 ounces produced during Q1 2021.
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.

Magna Gold Reports Fatal Accident at San Francisco Mine

Retrieved on:

Wednesday, February 16, 2022

TSX Venture Exchange, San Francisco Mining Exchange, Friends, Multimedia, Time, Gold, Safety, Man, Company, Mining

TORONTO, Feb. 16, 2022 /PRNewswire/ -Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ("Magna" or the "Company"), deeply regrets to report a fatal accident involving three employees at its San Francisco Mine on February 15, 2022.

Key Points:

TORONTO, Feb. 16, 2022 /PRNewswire/ -Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ("Magna" or the "Company"), 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 cause of the cave-in is unclear at this time and an investigation will be conducted to determine the cause of the accident.

Magna Gold Produces 34,601 oz of Gold in its First Two Full Quarters of Commercial Production

Retrieved on:

Wednesday, January 26, 2022

I am proud of the team as they exceeded our production targets in what was a challenging year industry-wide."

Key Points:

I am proud of the team as they exceeded our production targets in what was a challenging year industry-wide."
Realized gold price for Q4 2021 is net of gains and losses on derivatives.
After a successful restart of operations, we have increased our production guidance from 2021 to 65,000 75,000 oz of gold production at cash costs of USD $1,250- $1,350 per oz for the 2022 year.
Magna is a Mexico focused gold/silver production company engaged in acquiring, exploring, developing and operating quality precious metals properties in Mexico.

Magna Gold Reports Q3 2021 Production Results - Quarterly Production of 19,102 oz Gold

Retrieved on:

Thursday, October 14, 2021

Magna plans to release its full third quarter 2021 financial and operational results on or around November 29, 2021.

Key Points:

Magna plans to release its full third quarter 2021 financial and operational results on or around November 29, 2021.
During the month of August 2021, the San Francisco Mine produced ~7,000 oz of gold.
Q3 2021 was the first full quarter of commercial production since Magna acquired the mine and the team continues to optimize and improve operations daily.
As production continues to ramp up, we look to exit the year with monthly production of >7,000 oz/month."

Magna Gold Announces Grant of Stock Options

Retrieved on:

Friday, September 3, 2021

COVID-19, News, Failure, Forward-looking statement, Intention, Company, Multimedia, TSX Venture Exchange, SEDAR, Industry, Goal, Magna, Video news release, San Francisco Mining Exchange, CAD, Risk management

TORONTO, Sept. 3, 2021 /PRNewswire/ - Magna Gold Corp. (TSXV: MGR)(OTCQB: MGLQF) ("Magna" or the "Company") 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.

Key Points:

TORONTO, Sept. 3, 2021 /PRNewswire/ - Magna Gold Corp. (TSXV: MGR)(OTCQB: MGLQF) ("Magna" or the "Company") 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 common shares on September 2, 2021, the date prior to the grant of the stock options, was CAD $0.94 per share.
Magna is a Mexico focused gold/silver production company focused on acquiring, exploring, developing and operating quality precious metals properties in Mexico.