Magma Silver Corp. (TSXV: MGMA, OTCQB: MAGMF, formerly African Energy Metals Inc., renamed Apr 2025) is a Vancouver-headquartered explorer whose entire real, current business is the 100%-owned Ninobamba high-sulphidation/low-sulphidation epithermal silver-gold system (~4,100 hectares, Ayacucho region, Peru), acquired via a Jan 2025 option agreement with Rio Silver Inc. and now 100% controlled. The project spans an ~8km mineralized corridor across multiple targets (including Joramina); 2026 activity has focused on community-access negotiations with two local communities and planning a 2-phase, ~4,000m drill program. Management has stated a historical, NON-NI-43-101-compliant modeled estimate suggesting potential for >47 million oz Ag and 550,000 oz Au, explicitly disclosed as not yet resource-compliant.
Notable vs. Peers
- Jurisdiction risk score of 5/10 is meaningfully riskier than the peer average of 6.9/10.
- Trading within 0% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Not yet determined: mill, tailings facility, grid power.
Jurisdiction (40%)5/10
The Ninobamba project is in the Ayacucho region of Peru, an established mining jurisdiction with moderate political and permitting risk.
Infrastructure (40%)6.4/10
Confirmed road access at Ninobamba Silver-Gold Project, Ayacucho region, Peru; existing mill, grid power, and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:1/10
Stage: Grassroots Exploration
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:5/10
Peru: jurisdiction score 5/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:5/10
Primary commodity: Silver
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Chairman & CEO of Magma Silver Corp. (TSXV: MGMA). Over 40 years of experience in public corporate affairs, corporate finance and securities law, and President of CHM Financial Services since 1997. Member of the law societies of British Columbia and Alberta. Bachelor of Commerce, Mount Allison University; LLB, Dalhousie University. Source: magmasilver.com/about-us/leadership/.
CFO & Corporate Secretary of Magma Silver Corp. (TSXV: MGMA). Finance professional at Altus Capital Partners with over 15 years in the service industry, including experience with junior mining companies such as Scorpio Gold. Bachelor of Commerce (Finance), UBC Sauder School of Business; Accounting Diploma, Langara College. Source: magmasilver.com/about-us/leadership/.
General Manager of Magma Silver Corp. (TSXV: MGMA), and concurrently General Manager of Peruvian Metals Corp. MBA from Peru's ESAN program and a degree in geology, with experience in permitting, accounting and mineral processing; has been involved with the company's properties since 2007. Source: magmasilver.com/about-us/leadership/.
Director of Magma Silver Corp. (TSXV: MGMA). Independent director on numerous Canadian public company boards in the resource and technology sectors; a former president and CEO who raised millions for TSX Venture Exchange- and CSE-listed companies, with decades of corporate experience managing publicly traded firms. Source: magmasilver.com/about-us/leadership/.
Director of Magma Silver Corp. (TSXV: MGMA). Over 25 years in corporate finance and 30 years in capital markets; founding partner of Altus Capital Partners, a Vancouver boutique investment bank, and co-founder of multiple companies. Previously CEO of Lateegra Gold Corp. and of West Hawk Development Corp. Source: magmasilver.com/about-us/leadership/.
Advisor to Magma Silver Corp. (TSXV: MGMA). Professional Geologist with an MBA and over 45 years of experience in exploration for precious metals and copper porphyry systems; former President and CEO of a TSX-listed copper exploration company, and a Qualified Person under NI 43-101. Source: magmasilver.com/about-us/leadership/.
Advisor to Rio Silver Inc. (TSXV: RYO) and concurrently Chairman & CEO of Peruvian Metals Corp. (TSXV: PER); also Senior Technical Advisor to Magma Silver Corp. B.Sc. (Hon.) Geology, University of Alberta; registered professional geologist with APEGBC since 1992. 25 years working in Peru, Spanish-speaking; led in-country Peruvian operations since 1996 with deep community and regulator relationships. Identified and acquired both the Aguila copper-moly project (developed by Industrias Penoles) and the Pinaya copper-gold project (explored by Kaizen Discovery).
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Magma Silver, formerly African Energy Metals, holds 100% of the Ninobamba silver-gold project, about 4,100 hectares in Peru's Ayacucho region, acquired through a January 2025 option agreement with Rio Silver. The project covers a high- and low-sulphidation epithermal silver-gold system along a mineralised corridor of about 8km, including the Joramina target. The company holds the permits needed to drill at Joramina and is negotiating surface access agreements with two local communities before starting a planned two-phase drill program of about 4,000m. A historical modelled estimate described by management is not NI 43-101 compliant, and no current resource has been estimated.