Magna Mining Inc. (OTCQB:MGMNF)(TSXV:NICU) CEO Jason Jessup talked with Proactive's Angela Harmantas at the PDAC conference in Toronto about the company’s latest acquisition and its impact on operations. The company has closed a transformational deal, acquiring key copper assets in Ontario. Jessup emphasized that Magna Mining has now officially become a producing copper company as of March 1st.
He explained that the newly acquired assets were previously operated by a junior company that successfully developed and sold them for $1.8 billion in 2010. With this acquisition, Magna Mining plans to ramp up production at the McCreedy West mine and work towards restarting the Levack mine in 2026. The company also holds several fully permitted projects, including Green Hill, Podolski, and Shakespeare, positioning it for significant future growth.
Looking ahead, Magna Mining aims to optimize production at McCreedy West while advancing other assets in the Sudbury mining region. Jessup highlighted that the company’s strong execution of its plans has built trust with investors, contributing to the recent rise in its share price.
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