MAG Silver was able to impress with great quarterly figures and reported a net profit of $14,895 million ($0.14 per share) for Q1-2024. Juanicipio achieved a solid cost performance with cash costs of $2.50 per silver ounce sold ($8.66 per silver equivalent ounce sold) and all-in sustaining costs of $6.11 per silver ounce sold in Q1 2024. Juanicipio's production and cost guidance for 2024 is expected to be between 14.3 million and 15.8 million silver ounces produced at AISC of $9.50 to $10.50 per silver ounce sold. At a silver price of over $30, the margin is huge, so the company offers excellent leverage to the silver price.
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