Welcome to our dedicated page for Magna Mining news (Ticker: MGMNF), a resource for investors and traders seeking the latest updates and insights on Magna Mining stock.
Magna Mining Inc. (MGMNF) is a Sudbury-based exploration and development company focused on copper, nickel, and platinum group metal projects in one of Canada's most prolific mining districts. This page serves as the definitive source for all official news and corporate announcements related to its operations across multiple assets.
Investors and industry observers will find timely updates on resource estimates, exploration progress at key properties like the McCreedy West Mine, and strategic developments in the company's growing portfolio. The curated collection includes press releases on drilling results, asset acquisitions, operational milestones, and technical reports – all essential for understanding Magna Mining's position in the base metals sector.
Content is organized to provide clear insights into the company's dual focus on near-term production and long-term resource expansion. Regular updates ensure stakeholders stay informed about developments in the Sudbury Basin's critical mineral projects, exploration partnerships, and operational efficiency initiatives.
Bookmark this page for direct access to unfiltered updates from Magna Mining's corporate communications team. Check back regularly for the latest information driving decisions in this dynamic mining operation.
Magna Mining (OTCQX:MGMNF) has reported significant high-grade drilling results from its Levack Mine exploration program in Sudbury, Ontario. The company's drillhole FNX6083-W1 intersected exceptional mineralization including 29.2% copper, 0.9% nickel, and 53.0 g/t platinum + palladium + gold over 1.0 metre, located 140 metres below a previous intersection.
The drilling targeted the Rob's 2 ("R2") area in the footwall of the No. 3 Zone, showing notable similarities to the Morrison Footwall Cu-PGE Deposit. The company is currently operating two surface diamond drills at the Levack Mine, with plans to add two underground diamond drills in the coming weeks.
The mineralization pattern shows a transition from nickel-dominated veins to copper and precious metals-rich veins, consistent with patterns observed in the Morrison Deposit. This supports Magna's belief that the Levack Mine's footwall environment remains under-explored with potential for additional high-grade discoveries.
Magna Mining (OTCQX:MGMNF) reported its Q2 2025 operational and financial results, marking the first full quarter of production at the McCreedy West copper mine under its operation. The company processed 70,045 tons of ore with a combined grade of 3.26% Copper Equivalent.
Key financial metrics include an end-of-period cash balance of $27 million, net revenue of $18.47 million, and an adjusted net loss of $8.93 million. Operating costs were C$6.47 per pound with all-in sustaining costs of C$7.55 per pound. The quarter saw production of 3.05 million pounds of copper equivalent payable metal.
The company demonstrated operational improvements with development rates increasing from 6 ft/day in early 2025 to 17 ft/day in June, positioning the mine for enhanced 2026 production.
Magna Mining (OTCQX:MGMNF) has announced its upcoming Q2 2025 financial results release and conference call schedule. The company will release its second quarter financial results and MD&A after market close on Wednesday, August 27, 2025.
A conference call and webcast to discuss the results will be held on Thursday, August 28, 2025, at 8:00 am EDT. Investors can access the webcast online or join via phone using North American toll-free (1-844-763-8274) or international (1-647-484-8814) dial-in numbers.
Magna Mining (OTCQX:MGMNF) has scheduled the release of its Q2 2025 financial results after market close on Wednesday, August 27, 2025. The company will host a conference call and webcast to discuss the results on Thursday, August 28, 2025, at 8:00 am EDT.
Investors can access the webcast through the provided link or join via phone using the North American toll-free number (1-844-763-8274) or international dial-in (1-647-484-8814).
Magna Mining (OTCQX:MGMNF) has reported significant drilling results from its Levack Mine exploration program, with notable intersections of nickel-copper mineralization. The highlight includes drill hole MLV-25-21 which intersected 2.3% Ni and 0.7% Cu over 28.0 metres, including higher-grade sections of 6.6% Ni over 2.4 metres.
The company is operating two surface diamond drills at the Levack Mine, with plans to add two underground diamond drills in the coming quarters. The drilling program aims to support the Levack Mine restart study and upcoming Mineral Resource Estimate, focusing on near-surface mineralization approximately 135-155 metres from surface.
Additional significant results include hole MLV-25-22 which returned 2.4% Ni and 0.8% Cu over 15.5 metres. The company plans to expand exploration in the footwall area and test potential vertical vein systems near the Fecunis fault.
Magna Mining (OTCQX: MGMNF) has announced significant high-grade drill results from its McCreedy West mine's 700 Cu-PGE Footwall Zone. The drilling program revealed exceptional copper, nickel, and precious metal grades, including a standout intersection of 17.9% Cu, 0.6% Ni, and 28.1 g/t Pt + Pd + Au over 1.8 metres in drillhole MMW-25-119, and 10.5% Cu, 8.3% Ni, 42.6 g/t Pt + Pd + Au over 0.3 metres in drillhole MMW-25-133.
The drilling program, supported by two drills, is focused on definition and expansion drilling in the 700 Zone, with mineralization located within 150 metres of surface. The company is targeting areas where narrow vein mining methods could be applied, with high PGE grades hosted in copper and nickel rich veins potentially providing high-margin ore in 2026.
Magna Mining (OTCQX: MGMNF) has completed its acquisition of a significant property portfolio from NorthX Nickel Corp in the Sudbury Basin. The acquisition adds 304 km² of mineral claims, bringing Magna's total holdings in the area to 584 km².
The portfolio includes several notable properties: the Parkin property with historical production of 157,000 tons at 1.5% Ni, 1.5% Cu, and 6.2 g/t precious metals; the Wisner property with historical production of 295,000 tonnes at 0.9% Cu and 4.1 g/t precious metals; and properties near significant deposits like Blezard and Creighton, which have substantial measured and indicated resources.
The transaction terms include Magna paying C$1.00, assuming approximately C$481,629 in mine closure liabilities, while receiving C$665,000 from NorthX for closure plan assurance and property maintenance costs.
Magna Mining (OTCQX: MGMNF) has released its H2 2025 production and cost guidance for the McCreedy West Mine. The company expects quarterly ore sales of 80,000-92,000 tons from the 700 Copper Zone, with copper equivalent grades improving from 2.9-3.4% in Q3 to 3.8-4.4% in Q4 2025.
Cash costs per copper equivalent pound are projected to decrease from $3.85-$4.40 in Q3 to $3.11-$3.66 in Q4, while AISC is expected to improve from $4.95-$5.49 to $3.85-$4.47. The company has increased development rates from 6 ft/day in early 2025 to 17 ft/day in June, targeting 28 ft/day for H2 2025.
Magna Mining (OTCQX:MGMNF) has reported significant high-grade mineralization from its ongoing exploration at the Levack Mine. Key highlights include drillhole MLV-25-14A intersecting 2.6% Cu, 8.1% Ni, and 17.8 g/t Pt + Pd + Au over 0.6 meters in the Levack No.3 Footwall.
The exploration program revealed notable results in the Keel Zone, with drillholes MLV-25-10 and MLV-25-11 intersecting high-grade copper mineralization of 25.1% Cu and 25.7% Cu respectively over 0.3 meters. The company is currently operating two surface diamond drills at Levack Mine, focusing on near-surface infill drilling and exploring the footwall environment between the No. 3 Ni-Cu orebody and the Morrison Cu-Ni-PGE Deposit.
The company believes the footwall environment at Levack remains prospective for new Cu-PGE discoveries, with mineralization confirmed along an interpreted structural trend between the No. 3 Ni-Cu Orebody and the Morrison Cu-PGE-Ni Deposit.
Magna Mining (OTCQX: MGMNF) held its Annual & Special Meeting of Shareholders on June 26, 2025. Shareholders approved all proposed matters, including the election of directors and appointment of auditors. The elected board members include Jason Jessup, Carl DeLuca, John Seaman, Vernon Baker, Jonathan Goodman and Shastri Ramnath. Additionally, shareholders approved the company's proposed omnibus incentive plan.
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