MAG Silver Releases 2011 Financial Results

MAG Silver Corp. (TSX:MAG,AMEX:MVG) announced the company’s year-end financial results.

As quoted in the press release:

At December 31, 2011, the Company had working capital of $26,217,691 (December 31, 2010: $40,478,028), including cash on hand of $26,662,581 (December 31, 2010: $39,825,071). The primary use of cash during the year ended December 31, 2011 was for exploration and evaluation expenditures in Mexico totaling $9,216,860.

Click here for the MAG Silver Corp. (TSX:MAG) press release.