Magna Mining Stock Price, News & Analysis

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.

Magna Mining (MGMNF) has secured up to C$500,000 in funding from the Ontario government's Critical Minerals Innovation Fund for its Crean Hill project. The funding will support metallurgical work aimed at improving precious metal recoveries from contact and footwall mineralization, building on the surface bulk sample program conducted in 2024. The company plans to restart multiple mining operations and increase copper and nickel production in Sudbury over the next 3-4 years. Minister of Energy and Mines Stephen Lecce emphasized Ontario's commitment to leadership in the critical minerals sector, highlighting how this investment will enhance mineral recoveries in the Sudbury basin while creating employment opportunities and strengthening Ontario's position as a key supplier of critical minerals.

Magna Mining reported promising drill results from its McCreedy West mine, with significant copper, nickel, and precious metal intersections. Notable results include 3.0% Cu, 0.4% Ni, 9.1 g/t Pt+Pd+Au over 10.8m and 3.9% Cu, 0.6% Ni, 6.8 g/t Pt+Pd+Au over 2.1m in drillhole FNX33368. The company currently operates two underground diamond drills at the 700 Cu-PGE Footwall Zone, focusing on production planning and grade confidence for 2025. Additionally, Magna's Sudbury-based projects have been recognized by the Ontario Government as shovel-ready, strategic critical mineral projects, positioning them for potential federal investment. The company owns one producing critical mineral mine and four permitted past-producing projects in the Sudbury region, with ore selling agreements in place with Vale Base Metals and Glencore Canada.

Magna Mining reported Q1 2025 financial results, marking a transformational quarter with the closing of KGHM International base metal assets acquisition on February 28, 2025. The company secured a $33.5M private placement financing and began production at McCreedy West Copper mine, producing 790,000 lbs of copper equivalent from 20,388 tonnes of ore at 3.01% copper equivalent grade. Financial results showed net revenue of $4.45M, with cash costs of C$5.98/lb (US$4.16) and AISC of C$6.65/lb (US$4.63). The quarter ended with $38.3M cash balance, though reported an adjusted net loss of $5.4M. The company's net income of $29.1M was primarily due to an after-tax gain from the KGHM assets purchase.

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.