Note 8 - Investment in Juanicipio (Tables)

12 Months Ended

Dec. 31, 2024

Statement Line Items [Line Items]

Disclosure of carrying amount of investments in associates [text block]

	Year ended			Year ended
	December 31,			December 31,
	2024			2023
	$			$
Balance, beginning of year		394,622			338,316
Juanicipio oversight expenditures incurred 100% by MAG		-			384
Amortization of Juanicipio's oversight expenditures incurred 100% by MAG		(526	)		(305	)
Cash contributions and advances to Juanicipio (1)		-			24,992
Loan repayments from Juanicipio (2)		(92,361	)		(25,714	)
Dividends received from Juanicipio (3)		(26,400	)		-
Total for the year		(119,286	)		(642	)
Income from equity accounted Investment in Juanicipio		92,875			65,099
Interest earned, reclassified to accounts receivable (4)		(4,197	)		(8,150	)
Balance, end of year		364,014			394,622

Disclosure of associate operations [text block]

	For the year ended
	December 31,			December 31,
	2024			2023
	$			$
Sales		627,366			442,288
Cost of sales:
Production cost		(153,521	)		(171,830	)
Depreciation and amortization		(91,197	)		(68,475	)
		(244,718	)		(240,305	)
Gross profit		382,648			201,983
Consulting and administrative expenses		(14,319	)		(18,768	)
Extraordinary mining and other duties		(10,415	)		(4,945	)
		357,914			178,270
Exchange gains (losses) and other		4,347			(2,937	)
Interest expense		(9,538	)		(18,524	)
Income tax expense		(151,181	)		(27,381	)
Net income		201,542			129,428
MAG's 44% portion of net income		88,678			56,948
Interest on Juanicipio loans - MAG's 44%		4,197			8,150
MAG's 44% equity income		92,875			65,099

Disclosure of financial information of investments in associates [text block]

	December 31,		December 31,
	2024		2023
	$		$
Assets
Current assets
Cash and cash equivalents		53,193		42,913
Value added tax and other receivables		3,902		3,162
Income tax receivable		1,862		3,758
Concentrate sales receivable		88,324		56,532
Inventories
Stockpiles		4,365		2,417
Metal concentrates		1,916		2,361
Materials and supplies		18,724		18,414
Prepaids and other assets		1,784		5,501
		174,070		135,058
Non-current assets
Right-of-use assets		965		1,590
Mineral interests, plant and equipment		767,244		794,512
Deferred tax assets		8,953		24,336
		777,162		820,438
Total assets		951,232		955,496
Liabilities
Current liabilities
Payables		17,719		22,167
Interest and other payables to shareholders		3,534		12,160
Taxes payable		47,318		14,395
		68,571		48,722
Non-current liabilities
Lease obligation		974		1,597
Provisions
Reserves for retirement and pension		141		112
Reclamation and closure		3,871		3,605
Deferred tax liabilities		54,066		9,439
		59,052		14,753
Total liabilities		127,623		63,475
Equity
Shareholders' equity including shareholder advances		823,610		892,021
Total equity		823,610		892,021
Total liabilities and equity		951,232		955,496

Disclosure of associate cash flow statements [text block]

	For the year ended
	December 31,			December 31,
	2024			2023
	$			$
Operating activities
Net income		201,541			129,428
Items not involving cash
Depreciation and amortization		91,197			68,475
Income tax expense		151,181			27,381
Interest incurred on loans		9,538			18,524
Other		(1,634	)		3,304
Income tax payments		(55,998	)		(83,875	)
Change in other operating working capital		(39,135	)		(18,172	)
Net cash from operating activities		356,691			145,064
Investing activities
Capital expenditures including plant, mine development and exploration		(67,411	)		(84,881	)
Other		4,084			1,487
Net cash used in investing activities		(63,326	)		(83,393	)
Financing activities
Dividends paid to shareholders		(60,000	)		-
Loans and other capital provided by shareholders		-			56,800
Repayments of loans to shareholders		(209,920	)		(58,441	)
Interest paid to shareholders		(11,399	)		(17,409	)
Payment of lease obligations		(1,016	)		(856	)
Net cash used in financing activities		(282,335	)		(19,906	)
Effect of exchange rate changes on cash and cash equivalents		(749	)		46
Increase in cash and cash equivalents during the year		10,281			41,811
Cash and cash equivalents, beginning of year		42,913			1,102
Cash and cash equivalents, end of year		53,193			42,913