Magna Mining CEO Jason Jessup joined Proactive’s Stephen Gunnion with details of the Preliminary Economic Assessment (PEA) which has just been completed by Stantec on the company’s 100% owned Crean Hill Nickel Project in Sudbury, Ontario.

Jessup said the PEA is the culmination of “a lot of work” undertaken over the past approximately eight months. Describing the PEA as very positive, he said the numbers speak for themselves, with robust economics, a long mine life and a short window to construction and ultimately production.

Jessup took Proactive through the Base Case scenario for Crean Hill, as well as an alternative milling scenario comparing the economics of the Base Case with an Alternative Processing scenario through a future mill at the company’s Shakespeare Project.

Based on the results of the Alternative Processing portion of the PEA, a Pre-Feasibility Study (PFS) is recommended, with a focus on further optimization and the integration of the Crean Hill Project with the Shakespeare Project. The PEA also demonstrates why Magna Mining believes the Crean Hill Nickel Project has the potential to be the next nickel-producing mine in Canada, Jessup added.

One thought on “Magna Mining says PEA demonstrates the potential of Crean Hill Nickel Project

  1. Stef Van Loon says:

    And this is how we know the market hasn’t fully bottomed yet: good news is still bad news… Stock went from 0.77 to 0.62 on this news release – which has allowed me to average down once again, so thanks for that Mr. Market!

Leave a Reply

Your email address will not be published. Required fields are marked *

Name *
Email *