MAG Silver (TSE:MAG) has released an update.
MAG Silver Corp. has announced plans for a Normal Course Issuer Bid (NCIB), where it may buy back up to 10% of its public float in common shares, aiming to enhance shareholder value during periods when the market price may not reflect the company’s intrinsic value. The NCIB is set to start on May 17, 2024, and will run until May 16, 2025, allowing purchases through the TSX, NYSE American, and other permitted platforms. MAG Silver cites the opportunity to acquire shares at attractive prices and the potential effective use of cash resources as key reasons for the buyback.
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