OrbitonOpen research workspace →
Magna Mining logo

Magna Mining

TSXV:nicuLive AI agent

Magna Mining is a producing mining company co-founded in 2016 by Jason Jessup, focusing on copper, nickel, and PGM projects in the Sudbury Region of Ontario, Canada.

Investor website: https://magnamining.com/

About

Magna Mining is a producing mining company co-founded in 2016 by Jason Jessup, focusing on copper, nickel, and PGM projects in the Sudbury Region of Ontario, Canada. The company’s primary assets include the McCreedy West copper mine and several past producing mines. The Sudbury region is a significant contributor to mineral development in Canada, known for its Class 1 Nickel production and extensive mining infrastructure.

Verified company data

Cash position
C$140,000,000
Shares outstanding
249,484,161
Fully diluted shares
263,528,397
Mineral resource
Crean Hill is a brownfield, past producing mine with a closure plan in place, located in the historic Nickel mining district of Sudbury. The project has a NI 43-101 compliant Mineral Resource Estimate of over 30 million tonnes, including 14.5 million tonnes of high grade underground resources _(SGS Geological Services, 2022)_. First production from test mining and bulk sampling is anticipated in 2024. Shakespeare is a past-producing, feasibility stage NI-Cu-PGM project located 70km South-West of Sudbury. The project is easily accessible by road from the nearby Trans-Canada Highway, and has a strategically important location within trucking distance of milling and smelting capacity in the city. Shakespeare has an existing NI 43-101 compliant mineral resource estimate, and major permits in place for the construction of a 4,500 tpd mine, mill and tailings storage facility.
Projects
["Crean Hill is a brownfield, past producing mine with a closure plan in place, located in the historic Nickel mining district of Sudbury. The project has a NI 43-101 compliant Mineral Resource Estimate of over 30 million tonnes, including 14.5 million tonnes of high grade underground resources _(SGS Geological Services, 2022)_. First production from test mining and bulk sampling is anticipated in 2024. Highlights include:\nLocation: Sudbury, Canada\nStage: Advanced Exploration & Development\nOperation: Underground\nCommodities: Ni, Cu, Co, Pt, Pd, Au\n\nThe Crean Hill Deposit has a Preliminary Economic Assessment NI 43-101 Preliminary Economic Assessment of the Crean Hill Project _(Effective Date: April 15, 2024, SGS Canada Inc.)_. The Mineral Resource Estimate for the Denison NI-CU-PGE Sulphide Deposit _(Effective date: August 19, 2022, SGS Geological Services)_.\n\nCrean Hill is a brownfield, past producing mine with a closure plan in place, located in the historic Nickel mining district of Sudbury. The project has a NI 43-101 compliant Mineral Resource Estimate of over 30 million tonnes, including 14.5 million tonnes of high grade underground resources. First production from test mining and bulk sampling is anticipated in 2024.\n\nTypical SIC Contact Ore exhibits high grade pentlandite and chalcopyrite. Sudbury footwall mineralization contains high grade PGM’s. Footwall hole MCR 23 052 reported 0.8% Ni, 1.3% Cu and 2 g/t Pt+Pd+Au over 96.5 metres.\n\nNI 43-101 compliant indicated resource estimate of over 30 million tonnes, including 14.5 million tonnes of high-grade, underground resources _(SGS Geological Services, 2022)._ Estimated contained metal of over 500 million pounds of Nickel, 450 million pounds of Copper, 650,000 ounces of Platinum, 675,000 ounces of Palladium and 385,000 ounces of Gold.\n\n| CREAN HILL NI 43-101 Compliant Resource Estimate (November 2022) |\n| --- |\n| OPEN PIT |\n| Category | Cut-off Grade | Tonnes (Mt) | Ni % | Cu % | Co % | Pt g/t | Pd g/t | Au g/t | NiEq % |\n| Indicated | 0.3% NiEq | 16.76 | 0.53 | 0.49 | 0.02 | 0.48 | 0.37 | 0.25 | 1.08 |\n| Inferred | 0.3% NiEq | 0.43 | 0.43 | 0.49 | 0.02 | 0.29 | 0.14 | 0.07 | 0.82 |\n| UNDERGROUND |\n| Category | Cut-off Grade | Tonnes (Mt) | Ni % | Cu % | Co % | Pt g/t | Pd g/t | Au g/t | NiEq % |\n| Indicated | 1.1% NiEq | 14.53 | 0.96 | 0.84 | 0.03 | 0.88 | 1.02 | 0.54 | 2.07 |\n| Inferred | 1.1% NiEq | 1.17 | 0.61 | 0.46 | 0.02 | 0.64 | 1.09 | 0.21 | 1.41 |\n\nFirst Production Anticipated in 2024. Ore selling agreement in place with Vale. Closure plan filed March 2024. Permitted for 400,000 tonnes of ore under Advanced Exploration (AdEx). History: Crean Hill was a past producing mine operated by INCO (now Vale Canada) over 3 operating periods between 1900 and 2002. The mine cumulatively produced over 20 million tonnes of Nickel-Copper contact ore over this period of time. In 2022, Magna Mining purchased the property from Lonmin Canada.","Shakespeare is a past-producing, feasibility stage NI-Cu-PGM project located 70km South-West of Sudbury. The project is easily accessible by road from the nearby Trans-Canada Highway, and has a strategically important location within trucking distance of milling and smelting capacity in the city. Shakespeare has an existing NI 43-101 compliant mineral resource estimate, and major permits in place for the construction of a 4,500 tpd mine, mill and tailings storage facility. Highlights include:\nLocation: Sudbury, Canada\nStage: Development & Feasibility Stage\nOperation: Open Pit\nCommodities: Ni, Cu, Co, Pt, Pd, Au\n\nThe Shakespeare Deposit has a NI 43-101 Technical Report, Shakespeare Project Feasibility Study _(Effective Date: Jan 31, 2022, AGP Mining Consultants)_. Shakespeare is a feasibility stage, past-producing mine with the major permits in place for a 4,500 tonne per day mine, mill and tailings storage facility. Past production from the Shakespeare mine means that a significant amount is known about the metallurgy of the deposit and potential recoveries. Magna Mining also has an Impact Benefit Agreement in place with Sagamok Anishnawbek for the future development of the Shakespeare project.\n\nResources & Reserves: NI 43-101 compliant indicated open pit resource estimate of over 20 million tonnes. Estimated contained metal of over 120 million pounds of Nickel and 130 million pounds of Copper.\n\n| SHAKESPEARE NI 43-101 Compliant Resource Estimate (Jan 2022) |\n| --- |\n| OPEN PIT |\n| Category | Cut-off Grade | Tonnes (Mt) | Ni % | Cu % | Co % | Pt g/t | Pd g/t | Au g/t | NiEq % |\n| Indicated | 0.2% Ni Eq | 16.51 | 0.34 | 0.36 | 0.02 | 0.33 | 0.36 | 0.19 | 0.56 |\n| UNDERGROUND |\n| Category | Cut-off Grade | Tonnes | Ni % | Cu % | Co % | Pt g/t | Pd g/t | Au g/t | NiEq % |\n| Indicated | 0.4% Ni Eq | 3.83 | 0.31 | 0.36 | 0.02 | 0.3 | 0.32 | 0.19 | 0.53 |\n| Inferred | 0.4% Ni Eq | 2.36 | 0.33 | 0.4 | 0.02 | 0.34 | 0.37 | 0.2 | 0.57 |\n| TOTAL |\n| Category | Cut-off Grade | Tonnes | Ni % | Cu % | Co % | Pt g/t | Pd g/t | Au g/t | NiEq % |\n| Indicated | 0.2 / 0.4% Ni Eq | 20.34 | 0.33 | 0.36 | 0.02 | 0.32 | 0.35 | 0.19 | 0.55 |\n| Inferred | 0.4% Ni Eq | 2.36 | 0.33 | 0.4 | 0.02 | 0.34 | 0.37 | 0.2 | 0.57 |\n\n| SHAKESPEARE NI 43-101 MINERAL RESOURCE ESTIMATE - CONTAINED METAL |\n| --- |\n| OPEN PIT | Cut-off Grade | Category | Tonnes (millions) | Ni lbs (Millions) | Cu lbs (Millions) | Co lbs (Millions) | Pt ozs (Thousands) | Pd ozs (Thousands) | Au ozs (Thousands) |\n| 0.2% NiEq | Indicated | 16.51 | 123.7 | 131 | 7.3 | 175.1 | 191.1 | 100.8 |\n| UNDERGROUND | Cut-off Grade | Category | Tonnes (millions) | Ni lbs (Millions) | Cu lbs (Millions) | Co lbs (Millions) | Pt ozs (Thousands) | Pd ozs (Thousands) | Au ozs (Thousands) |\n| 0.4% NiEq | Indicated | 3.83 | 26.2 | 30.4 | 1.7 | 25.3 | 27.0 | 16.1 |\n| 0.4% NiEq | Inferred | 2.36 | 17.1 | 20.8 | 1.0 | 17.7 | 19.2 | 10.4 |\n\n| SHAKESPEARE NI 43-101 Compliant Reserve Estimate (Jan 2022) |\n| --- |\n| OPEN PIT |\n| Category | Cut-off Grade | Tonnes (Mt) | Ni % | Cu % | Co % | Pt g/t | Pd g/t | Au g/t |\n| Probable | 0.23% Ni | 11.87 | 0.33 | 0.35 | 0.02 | 0.32 | 0.36 | 0.18 |"]
Leadership
Jason Jessup (CEO & Director, Over 25 years of experience in the mining industry comprising operations management, corporate development and project evaluation. Formerly FNX Mining, Sandstorm Gold, Premier Royalty, and INCO.), Paul Fowler (Executive Vice President, Experienced Mining Executive with a background in Corporate Development and Capital Markets. Worked with publicly-listed Canadian mining companies for over 17 years, with extensive experience in Corporate Development, Marketing, M&A, & Capital Raising.), Jeff Huffman (COO, Experienced mining executive with over 20 years in operations management, project management and underground mine building. Most recently served as President & COO of Dumas Contracting Ltd.), Scott Gilbert (CFO, Over 25 years of experience in finance roles in the mining sector. Most recently held the position of Chief Financial Officer at Wesdome Gold Mines Ltd.), David King (Senior Vice President, Exploration and Geoscience, Registered professional geologist with more than 25 years of base and precious metal experience, focused on both mining production and exploration.), Tim Bradburn (Senior Vice President, General Counsel, Almost 20 years of experience in the mining industry and 25 years as a corporate, securities and M&A lawyer for publicly traded companies.), Greg Huffman (Senior Vice President, Capital Markets, Over 20 years of capital market experience in the mining sector, including positions in institutional mining equity sales, fund management, and mining equity research.), Vern Baker (Chairman, 30+ years of experience in the mining sector, currently COO of Exiro Nickel and previously CEO of Jaguar Mining.), Jonathan Goodman (Independent Director, Over 30 years mining investment and operating experience, currently President and CEO of Dundee Corporation.), John Seaman (Independent Director, Executive with +22 years experience in the mining industry, currently a Director of i-80 Gold Corp.), Carl DeLuca (Independent Director, Former Chief Legal Counsel for Detour Gold with 13+ years of experience with Vale.), Gord Morrison (Advisor, Former President and Chief Technology Officer of TMAC Resources Inc. and acknowledged expert in the exploration of the Sudbury Basin.)

Verified data last updated:

Recent filings

Investor FAQ