Thesis
MAG Silver (MAG) has recently raised CA$60 MM (~US$42 MM+) through a private placement, thereby pushing its current liquidity beyond $130 MM. MAG has a strong balance sheet, largely denoted by cash and mining assets, that are unmatched by any debt. The company's current business model revolves around funding its 44% JV stake in the promising Juanicipio (or JCP) project in Mexico through payments to the project operator, Fresnillo Plc (FNLPF). This underlines the need to have adequate liquidity at the company's disposal to provide for its share of project