Magna Mining (NICU) – Market Leading High Grade Nickel Results

Crux interview (Must listen):

Notes

FNX Mining was the best performing stock between 2000-2010 on the TSX
- Went from $0.25/share to a high of $39/share
Bringing on second drill rig sometime in the next couple of months
Footwall deposits are Copper + PGM rich and can have appreciable nickel
Flexible metals mix in one mine
- Copper PGM mine
- Nickel mine
- Both footwall zones are in Sudbury breccia, one being nickel rich and other nickel poor
Sees production as low risk and does not want to take on debt before being an established cash flower
Toll milling means in theory having a flexible mill with 0-7,000 tpd capacity
Expecting to prove up more Contact Style mineralization and find Footwall deposits at Crean hill
Selective mining
- Doubling of grade example: C$1,452/t (~4% NiEq)
- 50,000 bulk sample = C$72.6 M
- 1,000 tpd * 350 days = 1,000 * 350 * $1,452 = C$508 M/year
- 500 tpd = C$254 M/year