Magna Mining edges towards closing 'transformational' C$16M acquisition of Lonmin Canada Inc
The company said it expects to satisfy the final conditions of the deal on or around November 4 this year
Company
Magna Mining Inc
CVE:NICU
Magna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada. The company’s current assets are the past producing Shakespeare and Crean Hill Mines.
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Magna Mining reports impressive results from the 2022 drill program at flagship Shakespeare Mine
“Drilling below the West Zone open pit resource has demonstrated improved continuity of mineralization, which has potential to increase the open pit mineral resource and add to the Shakespeare mine life,” said Mynyr Hoxha, who is VP Explora
Magna Mining closes non-brokered private placement; raising gross proceeds of over $20M
The gross proceeds from the sale will be held in escrow by Computershare Trust Company of Canada, as subscription receipt agent, and released to the company when certain conditions are met
Magna Mining receives TSX Venture Exchange approval for Denison project acquisition and private placement; appoints David King as senior VP, technical services
The exploration and development company said the acquisition is anticipated to close in October 2022, while the private placement is expected to be completed on or about September 28, 2022
Magna Mining unveils 'transformational' acquisition of Loncan, which includes Denison project
The company also announced plans for a private placing of up to around 74 million subscription receipts at C$0.27 to raise total gross proceeds of up C$20 million
Magna Mining commissions second drill rig at Shakespeare Nickel project in Ontario
The second rig was moved to site early this month, and recently began drilling at the company's Spanish River Mine option, located 1 kilometer south-west of the recent P-4 nickel discovery
Magna Mining strikes non-binding agreement for proposed joint venture with Mitsui & Co for Shakespeare Mine and posts 2022 feasibility study
The company said the memorandum of understanding (MoU) is limited to 2,590 hectares of the more than 18,000-hectare Shakespeare Project in Ontario
Magna Mining is poised to become Sudbury's next nickel producer with its Shakespeare project
In a region dominated by major producers like Glencore, Vale and KGHM, it could be a daunting task to transition from development to operation but the Magna team are unfazed – they’ve done it before
Magna Mining announces positive assay results from 2021 drilling program at Shakespeare mine
The results continue to support the belief that the company can add significant open pit mineral resources to its Shakespeare deposit, Magna chief executive officer Jason Jessup said
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Magna Mining announces winter exploration program at Shakespeare project and results of recent borehole electromagnetic survey
The exploration and development company said the initial winter exploration program will consist of 4,500 metres (m) of drilling, which will target the new P-4 nickel discovery and the past-producing Spanish River Copper Mine
Magna Mining reports strong assay results from drilling at its flagship Shakespeare nickel-copper-PGM operation in Sudbury
Drilling intersected 52.27 metres grading 0.84% nickel equivalent at the Gap Zone area, a major boost to the company’s theory that the zone is mineralized
Magna Mining closes final tranche of C$3.2M financing to fund exploration on Sudbury assets
In the final tranche, the Toronto-based company issued 1,107,800 flow-through shares at a price of $0.45 per share, for aggregate gross proceeds of $498,510
Magna Mining closes initial tranche of its previously announced non-brokered private placement for aggregate gross proceeds of approximately $2.65M
The gross proceeds of the offering will be used to fund advancement of Magna's exploration activities at its mineral projects located in the Sudbury region of Ontario
Magna Mining increases non-brokered private placement to raise $3.8M
Magna plans to use the raised capital to fund the advancement of exploration activities at its mineral projects in the Sudbury region of Ontario
Magna Mining announces an offering of up to 6,666,667 flow-through common shares for total gross proceeds of up to $3 million
The company said the gross proceeds of the offering will be used to fund the advancement of Magna's exploration activities at its mineral projects located in the Sudbury region of Ontario
Magna Mining reports a new nickel-copper-PMG discovery at its Shakespeare project in Ontario
The company said two holes were drilled to intersect an untested geophysical anomaly, and both holes intersected “significant nickel, copper, and platinum group metals near surface”
Magna Mining continues to report promising assay results, as flagship Shakespeare Mine heads towards expansion
With permits in place already, Magna is aiming to put Shakespeare back into production with a 4,500 tonne per day (TPD) open-pit mining operation and processing plant