Magna Mining Announces H2 2025 Guidance
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-$4.47. The company has increased development rates from 6 ft/day in early 2025 to 17 ft/day in June, targeting 28 ft/day for H2 2025.
Magna Mining (OTCQX: MGMNF) ha pubblicato le previsioni di produzione e costi per la seconda metà del 2025 relative alla miniera McCreedy West. L'azienda prevede vendite trimestrali di minerale tra 80.000 e 92.000 tonnellate dalla zona 700 Copper, con una gradazione equivalente di rame in aumento da 2,9-3,4% nel terzo trimestre a 3,8-4,4% nel quarto trimestre 2025.
I costi in contanti per libbra di rame equivalente dovrebbero diminuire da 3,85-4,40$ nel terzo trimestre a 3,11-3,66$ nel quarto trimestre, mentre il costo totale all-in-sustaining (AISC) è previsto in miglioramento da 4,95-5,49$ a 3,85-4,47$. L'azienda ha aumentato la velocità di sviluppo da 6 piedi al giorno all'inizio del 2025 a 17 piedi al giorno a giugno, con l'obiettivo di raggiungere 28 piedi al giorno nella seconda metà del 2025.
Magna Mining (OTCQX: MGMNF) ha publicado su pronóstico de producción y costos para la segunda mitad de 2025 en la mina McCreedy West. La compañía espera ventas trimestrales de mineral entre 80,000 y 92,000 toneladas de la zona 700 Copper, con grados equivalentes de cobre mejorando de 2.9-3.4% en el tercer trimestre a 3.8-4.4% en el cuarto trimestre de 2025.
Se proyecta que los costos en efectivo por libra equivalente de cobre disminuyan de $3.85-$4.40 en el tercer trimestre a $3.11-$3.66 en el cuarto trimestre, mientras que el costo total AISC mejorará de $4.95-$5.49 a $3.85-$4.47. La compañía aumentó las tasas de desarrollo de 6 pies/día a principios de 2025 a 17 pies/día en junio, apuntando a 28 pies/día para la segunda mitad de 2025.
Magna Mining (OTCQX: MGMNF)는 McCreedy West 광산의 2025년 하반기 생산 및 비용 가이던스를 발표했습니다. 회사는 700 Copper Zone에서 분기별로 80,000~92,000톤의 광석 판매를 예상하며, 구리 등가 등급은 3분기 2.9~3.4%에서 4분기 3.8~4.4%로 개선될 전망입니다.
구리 등가 파운드당 현금 비용은 3분기 $3.85~4.40에서 4분기 $3.11~3.66로 감소할 것으로 예상되며, AISC는 $4.95~5.49에서 $3.85~4.47로 개선될 것으로 보입니다. 회사는 2025년 초 6피트/일에서 6월에는 17피트/일로 개발 속도를 높였으며, 2025년 하반기에는 28피트/일을 목표로 하고 있습니다.
Magna Mining (OTCQX: MGMNF) a publié ses prévisions de production et de coûts pour le second semestre 2025 concernant la mine McCreedy West. La société prévoit des ventes trimestrielles de minerai entre 80 000 et 92 000 tonnes provenant de la zone 700 Copper, avec des teneurs en équivalent cuivre passant de 2,9-3,4 % au troisième trimestre à 3,8-4,4 % au quatrième trimestre 2025.
Les coûts en espèces par livre équivalente de cuivre devraient diminuer de 3,85-4,40 $ au troisième trimestre à 3,11-3,66 $ au quatrième trimestre, tandis que l'AISC devrait s'améliorer de 4,95-5,49 $ à 3,85-4,47 $. La société a augmenté les taux de développement de 6 pieds/jour au début de 2025 à 17 pieds/jour en juin, visant 28 pieds/jour pour le second semestre 2025.
Magna Mining (OTCQX: MGMNF) hat seine Produktions- und Kostenaussichten für das zweite Halbjahr 2025 für die McCreedy West Mine veröffentlicht. Das Unternehmen erwartet vierteljährliche Erzverkäufe von 80.000 bis 92.000 Tonnen aus der 700 Copper Zone, wobei sich die kupferäquivalenten Gehalte von 2,9-3,4% im dritten Quartal auf 3,8-4,4% im vierten Quartal 2025 verbessern.
Die Bar-Kosten pro kupferäquivalentes Pfund sollen von 3,85-4,40 $ im dritten Quartal auf 3,11-3,66 $ im vierten Quartal sinken, während sich die AISC von 4,95-5,49 $ auf 3,85-4,47 $ verbessern soll. Das Unternehmen hat die Entwicklungsraten von 6 Fuß/Tag Anfang 2025 auf 17 Fuß/Tag im Juni erhöht und strebt 28 Fuß/Tag für das zweite Halbjahr 2025 an.
- Copper equivalent grades expected to significantly improve from 2.9-3.4% in Q3 to 3.8-4.4% in Q4 2025
- Cash costs projected to decrease from $3.85-$4.40 in Q3 to $3.11-$3.66 in Q4 2025
- Development rates increased substantially from 6 ft/day to 17 ft/day, targeting 28 ft/day
- AISC expected to decrease in 2026 as capital development program concludes
- Significant capital investments required for H2 2025 equipment upgrades and development
- Contract mining company needed for capital development in H2 2025, increasing costs
- Current AISC remains high at $4.95-$5.49 per copper equivalent pound in Q3 2025
Sudbury, Ontario--(Newsfile Corp. - July 16, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to announce production and cost guidance for the second half of 2025.
Jason Jessup, CEO of Magna, stated, "Over the past four months, Magna has been executing a plan to unlock the potential of the McCreedy West Mine. We have invested capital into underground equipment and additional development, hired additional people to support a 24-7 operation at the mine, and we are seeing the benefits of this plan materialize. The mine plan for this year is evolving from the plan we inherited with the purchase of McCreedy West, to a plan that is designed, owned and executed by Magna. In Q4 and beyond, we expect to be developing into mining areas that have better grades, while building flexibility and upside into the plan. We expect all-in sustaining costs to decrease in 2026 as we conclude our accelerated capital development program and achieve our optimization goals. I am proud of our team at the mine, and the dedicated executive management team that are helping to build McCreedy West into what we believe will be a long life, cash flow generating copper, nickel and PGE mine."
Highlights (in USD unless otherwise stated):
Quarterly ore sales from the 700 Copper Zone are expected to be between 80,000 and 92,000 tons in the second half of 2025.
Contained copper equivalent grade expected to be between
2.9% to3.4% in Q3 2025, and3.8% to4.4% in Q4 2025.Cash costs (per copper equivalent pound) expected to be
$3.85 t o$4.40 in Q3 2025, reducing to$3.11 t o$3.66 in Q4 2025.AISC (per copper equivalent pound) expected to be
$4.95 t o$5.49 in Q3 2025 and$3.85 t o$4.47 in Q4 2025.
Table 1 - Operating Guidance for Q3 & Q4 2025
| OPERATIONAL GUIDANCE (Prices are in CAD unless otherwise stated) | Q3 2025 | Q4 2025 |
| 700 Copper Zone Ore Tons Sold | 80,000 - 92,000 | 80,000 - 92,000 |
| Copper Equivalent Grade Contained | ||
| Copper Equivalent Payable | 3,500 - 4,200 | 4,700 - 5,600 |
| Average Realized Price | ||
| Cash Cost Per Copper Equivalent Pound | ||
| AISC Per Copper Equivalent Pound | ||
| Cost Metrics (USD)1 | ||
| Cash costs | ||
| AISC | ||
| 1CAD/USD exchange rate: 1.365 Copper equivalent payable pounds for the purpose of copper equivalent payable grade, cash cost and AISC were calculated using the following US dollar prices:2025: | ||
McCreedy West Planned Underground Development Activities in 2025
The Company plans to make important investments at the McCreedy West Mine during the second half of 2025, including upgrading the mobile equipment fleet and increasing the amount of capital and operating mine development. In June, a contract mining company was mobilized to site to increase the amount of capital development at McCreedy West for the reminder of the year. Forecasted daily development rates are expected to increase to 28 ft/day in the second half of 2025. Development rates year to date are shown in Table 2.
Table 2 - Development Rates at the McCreedy West Mine in 2025
| | Month | Development (ft/day) | |
| | Jan / Feb (Under Prior Operator) | 6 | |
| | March | 6.9 | |
| | April | 14.4 | |
| | May | 16.2 | |
| | June | 17 |
A contract mining company is not currently planned to be retained for capital development in 2026, at which point sustaining capital costs would be expected to decrease. The total underground development planned for H2 2025 (including operating and capital development) is approximately 5100 feet.
Planned capital development is designed to access the western side of the 700 Copper Zone on multiple levels via ramp. Planned operating development is expected to provide the mine with increased stope development inventory, which is expected to add consistency and flexibility to stope sequencing and other production activities.
COO Jeff Huffman added, "The planned capital development on the western side of the 700 Copper Zone should allow us to exploit the existing known resources as well as facilitate access to areas from which we can launch an exploration program in previously untested western areas of the 700 Copper Zone. As the capital development is now reaching the western extent on the 930 level, the first underground diamond drill will be mobilized in this area in coming weeks. The planned operating development will provide McCreedy West with increased production optionality and flexibility and is expected to support a more robust operating plan moving forward into 2026."
Figure 1 - Crushed Ore Pile from July 7, 2025 at McCreedy West Mine
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/258925_54faef8f1457f811_002full.jpg
Cautionary Statement on Forward-Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable securities laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology, such as "may", "might", "potential", "expect", "anticipate", "estimate", "believe", "could", "should", "would", "will", "continue", "intend", "plan", "forecast" or other similar words or phrases or variations thereof. For example, forward-looking statements include, but are not limited to, statements with respect to operational and financial performance including the Company's production and cost guidance for H2 2025, the ability to reduce sustaining capital costs in 2026, the additional capital investment and underground development planned for H2 2025, the potential of the McCreedy West Mine, mine development activities, the composition of the Company's portfolio of assets, including its operating mines, development and exploration projects, and Magna's future plans, and those statements found, among other sections of this press release, under the headings "Highlights" and "Table 1. Operating Guidance for Q3 & Q4 2025".
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, economic, technical and other risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements, including risks and uncertainties relating to the Company's present and future business strategies, operations performance within expected or budgeted ranges, including targeted mining rates and the availability of additional investment capital, personnel, contractors, equipment and supplies, anticipated future production and cash flows, including the failure to accurately estimate production, costs, cash flows and other forecasted operating and financial measures in this press release, the ability of the Company to achieve expected further development or production at the McCreedy West Mine, results of exploration programs, including the failure of additional drilling to realize anticipated growth in resources or additional definition or delineation of current resources, delays for assay results, changes in disclosed resources or reserves that are only estimated, local and global economic conditions and the environment in which the Company will operate in the future, the prices of base and precious metals (including copper, nickel and PGM minerals) and key commodities, projected mineral grades, international exchanges rates, anticipated capital and operating costs, the inability to raise the financing necessary to incur the expenditures required to retain and advance the Company's properties, environmental liabilities (known and unknown), accidents, labour disputes and other risks inherent in the mining industry, political instability, terrorism, insurrection or war, the availability and timing of required governmental and other approvals for the operation or development of the Company's projects and other risks disclosed in the Company's most recent management discussion and analysis. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Magna's filings with Canadian securities regulators, including the most recent management discussion and analysis, available on SEDAR+ at www.sedarplus.ca.
Although the Company has attempted to identify important risks, uncertainties, contingencies and factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements, there can be no certainty or assurance that the Company has accurately or adequately captured, accounted for or disclosed all such risks, uncertainties, contingencies or factors. Readers should place no reliance on forward-looking statements as actual results, performance or achievements may be materially different from those expressed or implied by such statements. Resource exploration and development, and mining operations, are highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge will not eliminate. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update any forward-looking statements, whether as a result of new information or future events or otherwise, except in accordance with applicable securities laws.
Non-IFRS Performance Measures
The Company has included certain terms or performance measures commonly used in the mining industry in this press release that are not defined under IFRS, which include cash costs and all-in sustaining costs. With respect to non-IFRS performance measures, please refer to the section in the Company's Q1 2025 Management Discussion and Analysis entitled "Non-IFRS Performance Measures" for the definitions and reconciliation of such non-IFRS performance measures to the consolidated financial statements of the Company. Non-IFRS performance measures do not have any standardized meaning under IFRS, and therefore, they may not be comparable to similar measures employed by other companies. Such measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS and should be read in conjunction with the Company's financial statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.
About Magna Mining Inc.
Magna Mining is a producing mining company with a portfolio of copper, nickel and PGM operating, exploration and development projects in the Sudbury Region of Ontario, Canada. The Company's primary assets are the producing McCreedy West copper mine and the past producing Levack, Podolsky, Shakespeare and Crean Hill mines. Additional information about the Company is available on SEDAR (www.sedar.com) and on the Company's website (www.magnamining.com).
For further information, please contact:
Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Senior Vice President
705-482-9667
Email: info@magnamining.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258925
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