Magna Mining Stock Price, News & Analysis

Magna Mining Inc. (MGMNF) has announced two key developments: First, the company has qualified to upgrade from the OTCQB Venture Market to trade on the OTCQX Best Market under the symbol "MGMNF", effective May 28, 2025. This upgrade provides US investors with access to real-time quotes and financial information through www.otcmarkets.com.

Additionally, Magna Mining will release its Q1 2025 financial results on May 29, 2025, after market close, followed by their first quarterly results conference call and webcast on May 30, 2025, at 8:00 am EDT. The company has provided dial-in details for both North American and international participants.

Magna Mining reports significant drilling results from its Levack and McCreedy West mines in Sudbury. Standout intersections include 24.0% copper, 1.2% nickel, and 6.7 g/t platinum + palladium + gold over 2.0 meters at Levack Mine.

At McCreedy West, drilling revealed impressive grades including 6.8% copper over 11.1 meters and 3.5% copper over 25.6 meters. Two drill rigs are active at each property, with a third mobilized to Levack to test deeper footwall exploration targets.

The company is advancing its Levack Mine restart plan for 2026, focusing on developing a surface ramp near the Keel Zone. Current drilling programs aim to define near-surface footwall mineralization and provide material for metallurgical testing to facilitate planning and ore sale agreements.

The exploration success supports Magna's strategy to expand resources and advance production planning at both properties, with particular focus on the copper-rich zones and PGE mineralization.

Magna Mining (TSXV: NICU) (OTCQB: MGMNF) has announced several corporate updates. The company has appointed Tim Bradburn as Senior Vice President, General Counsel and Corporate Secretary, bringing over 20 years of experience from his previous role at IAMGOLD

Regarding the NorthX asset acquisition agreement from December 18, 2024, the company reports positive progress and targets closing in May 2025. The company has completed its 2024 drilling programs at Crean Hill and Shakespeare, with final assay results received and ongoing data interpretation. Currently, exploration drilling is active at the Levack Mine with two diamond drills operating and a third scheduled to start.

The company has granted 150,000 stock options to officers and employees at an exercise price of $1.40 per share, expiring April 9, 2030, with a phased vesting schedule. Additionally, 40,000 restricted share units were granted with a 3-year vesting period.

Magna Mining (TSXV: NICU) (OTCQB: MGMNF) has announced significant assay results from its McCreedy West and Levack mines. At McCreedy West, notable intersections include 4.4% Cu, 0.6% Ni, 13.8 g/t Pt + Pd + Au over 18.0 metres, and at Levack Mine, results show up to 24.9% Cu, 0.4% Ni & 5.0 g/t Pt + Pd + Au over 1.6 metres.

The company, which acquired McCreedy West Mine from KGHM on February 28, 2025, is currently operating two active drills underground at McCreedy West and two surface diamond drills at Levack, with a third drill scheduled for April. The drilling programs focus on resource expansion, definition, and supporting mid-term production planning.

Magna has implemented operational improvement initiatives at McCreedy West, focusing on streamlining processes, improving grade control, and increasing efficiency. The company plans to provide detailed production plans before the end of Q2 2025.

Magna Mining (TSXV: NICU) (OTCQB: MGMNF) has initiated surface diamond drilling at the Levack Mine following the completion of its Sudbury Basin assets acquisition from KGHM. The company also reported significant 2024 drilling results at the McCreedy West Mine, including impressive intersections of 14.3% Cu, 3.5% Ni, 6.0 g/t Pt+Pd+Au over 9.6 metres in drillhole FNX33223.

The acquisition package includes the producing McCreedy West copper mine, past-producing Levack, Podolsky, and Kirkwood mines, along with various exploration properties. Initial surface drilling at Levack Mine will focus on defining near-surface mineralization and expanding the unmined Keel FW Zone, where historical intersections showed up to 31.0% Cu.

At McCreedy West Mine, ongoing production support drilling with two underground diamond drills has demonstrated potential for significant resource expansion, particularly along the lower margins and western area of the 700 Footwall Cu-PGE Zone.

Magna Mining (TSXV: NICU) (OTCQB: MGMNF) has completed the acquisition of base metals assets in the Sudbury Basin from KGHM International The acquired portfolio includes the producing McCreedy West copper mine and several past-producing mines (Levack, Podolsky, and Kirkwood), along with exploration assets.

The purchase terms include:

• $5.3M initial cash payment
• 1,180,705 company shares valued at $2M ($1.69/share)
• $2M deferred cash payment due by December 31, 2026
• Up to $24M in contingent milestone payments

As part of the transaction, Magna assumes $9.9M in reclamation liabilities. KGHM retains 4% net smelter royalties on new discoveries, with Magna having the option to buy back 3%. The company has also secured a $12M letter of credit facility with Desjardins.

Magna Mining (TSXV: NICU) (OTCQB: MGMNF) has been recognized as one of the top fifty performing companies on the TSX Venture Exchange, earning a spot on the prestigious 2025 TSX Venture 50 list. Based in Sudbury, one of North America's most established mining centers, Magna is a growth-focused copper and nickel mining company.

CEO Jason Jessup expressed pride in this achievement, noting that the company's business plan was developed nearly a decade ago, requiring years of dedication and team commitment to reach their current position. This recognition highlights Magna's strong performance and growth in the competitive mining sector.

Magna Mining (TSXV: NICU) (OTCQB: MGMNF) has provided an update on its previously announced acquisition of base metals assets in the Sudbury Basin from KGHM affiliate. The company entered into a definitive share purchase agreement on September 11, 2024, and both parties have been working towards satisfying all conditions precedent, including obtaining necessary regulatory and third-party consents, approvals, and waivers. Magna reports satisfactory progress and aims to complete the transaction by the end of February 2025.