Magma Silver Corp
Primary tickers: TSXV:MGMA
Stage of development: Exploration
Primary mineral: Silver, Gold
Project to promote: Ninobamba
Project location: Peru
Website: magmasilver.com
Magma Silver Corp (TSXV:MGMA) is a Canadian precious metals exploration company focused on developing the high sulfidation Ninobamba and Jeromina silver and gold project in Peru. Our flagship Ninobamba project spans an 8km mineralized corridor in a prolific geological belt. Extensive exploration by Newmont Mining and others has demonstrated world-class resource potential, with over $14M invested to date. Our extremely tight share structure and low market cap offers great investment and growth potential.
Cash: CAD1M
Debt: /
Financials
Management Profile
Michael Townsend – Corporate Finance.
Mr. Townsend has extensive experience in corporate finance spanning over 25 years and 30 years in Capital Markets. Mr. Townsend is one of the founding partners of Altus Capital Partners, a boutique investment bank based in Vancouver, B.C. Altus has been involved in raising over $180-million in equity financings over the past five years. Mr. Townsend co-founded Hemptown, Patriot One Technologies Inc., and Body and Mind Inc., Raytec Metals Corp., and previously served as CEO of Lateegra Gold Corp. and CEO of West Hawk Development Corp.
What is your rationale for taking part in 121 Mining Investment?
We will be doing a large raise near the end of the summer / beginning of fall. The purpose of 121 is to gain potential investors for that time and get our story out. Picking up potential retail investors as well.
What recent news would you like to highlight to investors attending?
Beginning of Q2 – Closed 1.4M private placement and closed on the Ninobamba asset purchase from Rio Silver.
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Begin phase 1 of our exploration campaign
6 Months:
Complete a $3-4M raise to fund phase 2 and 3 of our exploration campaign
12 Months:
Put out a compliant resource on the Ninobamba project
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Market uncertainty and raising capital is one of the main challenges facing junior mining companies right now. Our recent private placement which we just closed in early April was oversubscribed, showing our ability to raise capital and our investors confidence in our management team.
What do you think makes your company such a compelling investment?
Being able to invest at such an early stage of the company, which has a cheap share price and minimal amount of shares outstanding is very appealing.
What are the top 3 key investor takeaways?
1. Get in at an early stage
2. Very tight share structure
3. Drilling and trenching highlight a high-grade resource potential