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Magna Mining has received the Crean Hill Permit to Take Water, enabling advanced exploration and test mining. The permit allows dewatering of mine workings for surface bulk sampling and underground mining. The company plans to start the surface bulk sample in Q2 2024 and underground exploration in late 2024. Recent drilling results show high-grade mineralization in the 109 FW Zone. Magna aims to confirm mineralization continuity and de-risk the project through test mining. The company is fully permitted to proceed with its exploration plans.
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End-of-Day
1.51%
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Rhea-AI Summary
Magna Mining Inc. announces promising drilling results from the 2024 exploration program at Crean Hill, showcasing high-grade core mineralization in the 109 Footwall Zone. The company also highlights the filing of the Crean Hill Closure Plan and the signing of the Definitive Offtake Agreement. Magna is well-positioned for further exploration and development activities in 2024.
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End-of-Day
11.08%
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Magna Mining Inc. (MGMNF) signs a Definitive Off-Take Agreement with Vale Canada for the Crean Hill Project, showcasing positive metallurgical test results and advanced exploration grades. The agreement includes initial production shipment to Vale's Clarabelle Mill in Sudbury, with high concentrate grades predicted. Magna is on track for underground test mining and future commercial production decisions, awaiting permit approvals for water dewatering. The company plans to update the Mineral Resource Estimate in Q2 2024, exploring non-equity funding sources for advanced exploration. RSU's were granted to the CFO, Ann-Marie Finney, in June 2023.
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End-of-Day
36.18%
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Magna Mining Inc. provides an update on the permitting and approval process for the Crean Hill Project. The company received confirmation for the amended Closure Plan, allowing advanced exploration with a surface bulk sample and test mining. Magna expects to process 400,000 tonnes of mineralized rock and finalize processing agreements by Q1 2024. The CEO, Jason Jessup, commended the team and authorities for the accomplishment. Magna also awaits approval for a Permit to Take Water (PTTW) to dewater underground workings. The company plans non-dilutive funding options for advanced exploration due to high capital costs. Magna is fully funded for a 25,000 m exploration drilling program in 2024.
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End-of-Day
0.86%
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Rhea-AI Summary
Magna Mining Inc. announces positive initial drilling results from the 2024 exploration program at Crean Hill, revealing significant mineralization with highlights including 1.1% Ni, 8.3% Cu, and 13.9 g/t Pt + Pd + Au over 3.0 meters. The company is progressing towards defining the high-grade core of the zone and expanding the mineralized envelope. Magna is well-funded to complete 25,000 meters of exploration drilling in 2024.
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Rhea-AI Sentiment
End-of-Day
1.66%
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Magna Mining Inc. provides an update on the 2024 exploration activities and corporate initiatives. The company has resumed diamond drilling at the Crean Hill Project and plans to commence drilling on regional targets at the Shakespeare Project. Magna is also pursuing various government grant applications and funding opportunities to support critical mineral production.
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0.89%
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Magna Mining Inc. (NICU) Grants 250,000 Stock Options to Officers and Employees
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-0.93%
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Magna Mining Inc (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) announces the appointment of Jeff Huffman as Chief Operating Officer, bringing extensive mining industry experience and expertise to the company. With a strong track record in operational leadership and a background in successful mining projects, Huffman's appointment aligns with Magna's long-term growth objectives, positioning the company for advanced exploration at Crean Hill and future commercial production.
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End-of-Day
-8.97%
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Magna Mining Inc. announces the granting of 2,281,000 stock options and 961,000 restricted share units to officers, employees, and consultants. The stock options have an exercise price of $0.44 per share and vest over a period of three years. The restricted share units will fully vest after three years. The company also approved an amendment to the RSU Plan to increase the maximum number of shares reserved for issuance from 1,500,000 to 3,000,000 shares.
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End-of-Day
10%
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Magna Mining Inc. provides an update on the 2023 exploration program. They have completed 17,618 m of drilling at the Crean Hill Project, with new assay results showing significant mineralization. The drilling program has exceeded expectations, and a 2024 exploration budget has been authorized.
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Rhea-AI Sentiment
End-of-Day
10%
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MAGNA MNG INC
OTC:MGMNF
MGMNF Rankings
MGMNF Stock Data
85.94M
89.34M
33.25%
21.28%
Dimension Stone Mining and Quarrying
Mining, Quarrying, and Oil and Gas Extraction
United States of America
Dowling