Big move up over the last few weeks in Magna Gold $MGR.v which is a new gold producer. Magna just purchased and are working on restarting the San Francisco mine in Sonora, Mexico. They are currently working on an updated 43-101 technical report to be complete in July. 1/

This which will allow them to give forward guidance on the resource and production. Exploration upside is good with three properties to be drilled in the coming months in addition to more drilling in the two mine pits. 2/

I bought Magna recently before the big run and have had a couple of conversations with Arturo Bonillas who is President. He has brought back the team which had success with this operation in past years. They are very familiar with the equipment and local geology. 3/

They seem to be doing well with restarting the heap leaching and crushing so far. Magna $MGR.v sold over $4M worth of gold in May. The mine should be quite profitable at current gold prices. https://www.magnagoldcorp.com/news/magna-gold-corp-provides-corporate-update- 4/

Production for the rest of the year will come from material already on the leach pads, low grade stockpile, and fresh material from the mine. It looks like Magna can produce 70K oz/yr gold and that they will have at least a 750,000 oz gold resource at the San Francisco mine . 5/

Magna does not plan stay small for long. They plan to grow through exploration and acquisitions. Later this year they will be drilling for resource expansion at the existing pit. They have three exploration properties which should see 2000-3000 m of drilling in coming months. 6/

At the San Francisco pit, mineralization is thought to continue at depth below and adjacent to the pit and they will soon drill here. Previous drilling in these areas had intersections of 9 meters of 8.16 g/t Au, 1.50 meters of 6.76 g/t gold and 7.50 meters of 2.13 g/t gold. 7/

The San Francisco pit will require a layback for expansion in the near future. This will likely cost about $20M and will be paid for with operating cashflow. 8/

The San Francisco pit will require a layback for expansion in the near future. This will likely cost about $20M and will be paid for with operating cashflow. 9/

Magna will also do some trial mining in 2020 at Mercedes, a property with previous exploration work that is adjacent to the Minera Alamos Santana project. Santana is being rapidly developed by an excellent team at $MAI.v. Both cos aim to be intermediate size gold producers. 10/