As a speculative investment, Magma Silver could potentially benefit from the breakout in Silver price above the $55 USD threshold. With 3.5 oz of Silver and a bonus 2 grams of gold per metric ton at their Joramina zone of the Ninobamba Project in Peru, Magma is poised to capitalize on the rising price of both Silver and Gold commodities in the near future.
Magma recently closed a $5 Million private placement to continue the over $14M already invested in the 4100 hectare Ninobamba Project, including 36-month Warrants exercisable at $0.25 per share. These funds will allow Magma to substantially increase their initial drill program this year into 2026 at the Joramina zone which was the focus of former operator, Newmont Corp’s, 2011 report detailing a significant gold and silver resource of 550,000 oz gold and 12,000,000 oz silver. The report was based on market prices of only US$1,200 oz gold and US$20 oz silver at the time.
With gold and silver now over 3x that initial report, and current drilling resulting in higher concentration of high-sulphidation ore than the previous 12 Million potential ounces of silver and 550,000 ounces of gold reported in the Joramina Zone alone, Magma is poised to cash in.
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