Magna Mining poised to graduate to Toronto Stock Exchange
Magna Mining Inc. [NICU-TSXV, MGMNF-OTCQB, BYD-FSE] said Friday it will be graduating from the TSX Venture Exchange to the Toronto Stock Exchange. The company said the shares will begin trading on the TSX at market open on June 23, 2026, and will continue to trade under the symbol NICU.
In conjunction with the graduation to the TSX, the common shares will be delisted from the TSX Venture Exchange.
“Graduating to the Toronto Stock Exchange is an important achievement for Magna and reflects the significant progress we have made in building a new, Sudbury-focused Canadian mining company,’’ said Magna CEO Jason Jessup.
On Friday, Magna shares eased down 3.2% or $0.07 to $2.12. The shares trade in a 52-week range of $3.94 and $1.64.
Magna was in the news last year when it reached a deal with a subsidiary of KGHM international Ltd. to acquire a portfolio of base metal assets in the Sudbury Basin in Ontario.
Magna agreed to acquire the producing McCreedy West Copper mine, the past-producing Levack mine, the Podolsky mine, and Kirkwood mine as well as the Falconbridge Footwall (81.41%), Northwest Foy (81.41%), North Range and Rand exploration assets.
As a result, Magna said it would immediately become a copper and nickel mining company with an extensive portfolio of development and exploration assets in the premier critical mining district in Canada.
The company’s flagship assets are the Shakespeare and Crean Hill mines. Shakespeare is a feasibility-stage project which has major permits for construction of a 4,500 tonne-per-day open pit mine, processing plant and tailings storage facility. Crean Hill is a past-producing nickel, copper .and PGM mine.
During the first quarter of 2026, Magna achieved positive cash margin of $6.0 million at the McCreedy West copper-precious metals-nickel mine. In the first quarter, 82,296 tons of ore was processed from the 700 Footwall Copper Zone at McCreedy West at a grade of 3.38% copper equivalent (CuEq) based on realized metal prices on the quarter.
The company produced 2.1 million CuEq payable pounds in the first quarter of 2026. With both tonnage and grades forecast to increase from Q1, the company continues to expect to achieve full year production guidance of 16-18 million CuEq payable pounds.
Other highlights from Q1 included quarterly cash costs and all-in sustaining costs of US$3.48 per CuEq and US$4.21 per CuEq pound respectively.
The company ended the quarter with $35.6 million in cash equivalents and a working capital balance of $53.7 million.
Prior to acquiring the Levack Mine in the first quarter of 2025, company officials believed there remained the potential to discover another high-grade copper, nickel and precious metal deposit in the footwall environment of the property. In Q1, the company completed the breakthrough connecting to Vale’s Coleman Mine and continued expanding and delineating the R2 Footwall copper-precious metals Zone discovery. The preliminary economic assessment for Levack is on track to be completed in the third quarter along with the pre-feasibility study for Crean Hill.