MAG Silver Loses 12 Cents/Share In FY '08 As Compared With 19 Cent Loss In '07

MAG Silver has released its results for fiscal year 2008, in which it lost $5.87 million (or 12 cents/share) as compared with $8.15 million (19 cents/share) in FY '07. In addition to other highlights, including a NI 43-101 compliant resource estimate for the gold-silver-lead-zinc Juanicipio property, the news release notes that MAG has $52.26 million in cash, no debt, and plans to spend $17 million on exploration in FY '09. $2.5 million of this money is earmarked to hold up MAG's 44% work committment for Juanicipio.

MAG closed last Friday at $5.47, up 24 cents on the day.

Its Google Finance web page is here.

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