Magna Mining (TSXV:NICU) From Producer to Powerhouse: Magna Mining’s Bold Growth Plan

Mar 5, 2025

Ask episode

Chapters

Transcript

Episode notes

Interview with Jason Jessup, CEO of Magna Mining Inc.

Our previous interview: https://www.cruxinvestor.com/posts/magna-mining-tsxvnicu-magna-bets-on-coppers-future-with-acquisition-of-kghms-sudbury-portfolio-6411

Recording date: 3rd March 2025

Magna Mining is a rising star in the Canadian mining sector, poised to capitalize on the surging demand for critical metals like nickel and copper. With a portfolio of high-quality assets in the world-renowned Sudbury Basin, Magna offers investors a compelling opportunity to gain exposure to the electrification megatrend.

At the heart of Magna's story is the McCreedy West mine, a cornerstone asset already in production. With a history of mining since the late 1990s, McCreedy West boasts a substantial resource base of over 9 million tons. Magna is now ramping up operations, with plans to boost throughput to 400-500,000 tons per year. Even more exciting, Magna is targeting higher grades of 4-5% copper, a level rarely seen in global mining today. This combination of scale and grade is set to generate significant cashflows, giving Magna the firepower to fund aggressive growth.

But McCreedy West is just the beginning. Magna's crown jewel is the past-producing Levack mine, a high-grade monster that previously yielded head grades of 8-10%+ copper. Magna is now aggressively exploring the Levack deposit, with drills already turning to expand the resource. The potential is immense – with historic production of over 60 million tons, Levack could be a true company-maker for Magna. Management is targeting a rapid restart by 2026, which could propel Magna into the ranks of the mid-tier producers.

Magna has a pipeline of over five permitted projects in the Sudbury Basin, giving it incredible optionality and scale potential. From the advanced-stage Crean Hill project to the low-capex Shakespeare open pit, Magna controls a string of pearls in one of the world's most prolific mining camps. This creates the potential for Magna to evolve into a true district-scale producer over time, leveraging shared infrastructure and a centralized management team to drive industry-leading margins.

Critical to Magna's success is the strength of its leadership. CEO Jason Jessup is a mining veteran with a proven track record of value creation, having played a key role in building FNX Mining into a Sudbury heavyweight. He leads a technical team with decades of experience in the basin, giving Magna a true home field advantage. This deep knowledge base is complemented by a bold vision for growth and the proven ability to attract capital. Magna's recent $30m raise highlights the confidence the market has in the company's prospects.

With the tailwinds of electrification and decarbonization at its back, the company is perfectly positioned to ride the coming wave of demand for nickel and copper. As Jessup says, "This isn't about now we're a producer, we're done. This is about building into something that's significant." For investors looking to align themselves with that vision, Magna Mining presents a uniquely compelling opportunity. In a world hungry for critical metals, Magna is ready to deliver.

View Magna Mining's company profile: https://www.cruxinvestor.com/companies/magna-mining