I wouldn't spend them on training your magic level. Depending on what your level is now (and magic level), it may not even be worth it to train. Mages are very 'magic oriented' hunters and will waste/use mana during hunts, no matter what. So, technically, you're training while you're hunting already.

On the other hand, a high magic level will obviously provide you with more damage which will in return make leveling easier... But I'd just go hunt.