Canadian silver development company MAG Silver (MAG, Financial) is one of only three development-stage miners we own in the portfolio. MAG is working in partnership with Fresnillo on developing the Juanicipio project in Mexico’s Zacatecas state, a rich source of global silver production. The project is expected to be commis-sioned in the fourth quarter. In the meantime, MAG is sending the ore extracted at Juanicipio to a neighboring mill operated by Fresnillo for processing, the proceeds from which have improved its financial position.
From First Eagle Investment (Trades, Portfolio)s' Gold Fund second-quarter 2021 commentary.
