Magna Mining Announces H2 2025 Guidance
Magna Mining Announces H2 2025 Guidance
Sudbury, Ontario--(Newsfile Corp. - July 16, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQX:
MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to announce production and cost
guidance for the second half of 2025.
Jason Jessup, CEO of Magna, stated, "Over the past four months, Magna has been executing a plan to
unlock the potential of the McCreedy West Mine. We have invested capital into underground equipment
and additional development, hired additional people to support a 24-7 operation at the mine, and we are
seeing the benefits of this plan materialize. The mine plan for this year is evolving from the plan we
inherited with the purchase of McCreedy West, to a plan that is designed, owned and executed by
Magna. In Q4 and beyond, we expect to be developing into mining areas that have better grades, while
building flexibility and upside into the plan.
We expect all-in sustaining costs to decrease in 2026 as we
conclude our accelerated capital development program and achieve our optimization goals. I am proud
of our team at the mine, and the dedicated executive management team that are helping to build
McCreedy West into what we believe will be a long life, cash flow generating copper, nickel and PGE
mine."
Highlights (in USD unless otherwise stated):
Quarterly ore sales from the 700 Copper Zone are expected to be between 80,000 and
92,000 tons in the second half of 2025.
Contained copper equivalent grade expected to be between 2.9% to 3.4% in Q3 2025, and
3.8% to 4.4% in Q4 2025.
Cash costs (per copper equivalent pound) expected to be $3.85 to $4.40 in Q3 2025,
reducing to $3.11 to $3.66 in Q4 2025.
AISC (per copper equivalent pound) expected to be $4.95 to $5.49 in Q3 2025 and $3.85 to
$4.47 in Q4 2025.
Table 1 - Operating Guidance for Q3 & Q4 2025
OPERATIONAL GUIDANCE
(Prices are in CAD unless otherwise stated)
Q3 2025
Q4 2025
700 Copper Zone Ore Tons Sold
80,000 - 92,000
80,000 - 92,000
Copper Equivalent Grade Contained
2.90% - 3.40%
3.80% - 4.40%
Copper Equivalent Payable Pounds (000s)
3,500 - 4,200
4,700 - 5,600
Average Realized Price
$5.69
$5.69
Cash Cost Per Copper Equivalent Pound
$5.25 - $6.00
$4.25 - $5.00
AISC Per Copper Equivalent Pound
$6.75 - $7.50
$5.25 - $6.10
Cost Metrics (USD)
1
Cash costs
$3.85 - $4.40
$3.11- $3.66
AISC
$4.95 - $5.49
$3.85 - $4.47
1
CAD/USD exchange rate: 1.365
Copper equivalent payable pounds for the purpose of copper equivalent payable grade, cash cost and AISC were calculated using the following US
dollar prices:2025: $4.17/lb Cu, $6.90/lb Ni, $15.85/lb Co, $959.65/oz Pt, $944.65/oz Pd, $3,207.48/oz Au, $32.26 Ag.
McCreedy West Planned Underground Development Activities in 2025
The Company plans to make important investments at the McCreedy West Mine during the second half
of 2025, including upgrading the mobile equipment fleet and increasing the amount of capital and
operating mine development. In June, a contract mining company was mobilized to site to increase the
amount of capital development at McCreedy West for the reminder of the year. Forecasted daily
development rates are expected to increase to 28 ft/day in the second half of 2025.
Development rates
year to date are shown in Table 2.
Table 2 - Development Rates at the McCreedy West Mine in 2025
Month
Development (ft/day)
Jan / Feb
(Under Prior Operator)
6
March
6.9
April
14.4
May
16.2
June
17
A contract mining company is not currently planned to be retained for capital development in 2026, at
which point sustaining capital costs would be expected to decrease. The total underground development
planned for H2 2025 (including operating and capital development) is approximately 5100 feet.
Planned capital development is designed to access the western side of the 700 Copper Zone on
multiple levels via ramp. Planned operating development is expected to provide the mine with increased
stope development inventory, which is expected to add consistency and flexibility to stope sequencing
and other production activities.
COO Jeff Huffman added, "The planned capital development on the western side of the 700 Copper
Zone should allow us to exploit the existing known resources as well as facilitate access to areas from
which we can launch an exploration program in previously untested western areas of the 700 Copper
Zone. As the capital development is now reaching the western extent on the 930 level, the first
underground diamond drill will be mobilized in this area in coming weeks. The planned operating
development will provide McCreedy West with increased production optionality and flexibility and is
expected to support a more robust operating plan moving forward into 2026."
Figure 1 - Crushed Ore Pile from July 7, 2025 at McCreedy West Mine
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8002/258925_54faef8f1457f811_002full.jpg
Cautionary Statement on Forward-Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this
press release constitute "forward-looking statements" and "forward-looking information" (collectively,
"forward-looking statements") within the meaning of applicable securities laws. Generally, these forward-
looking statements can be identified by the use of forward-looking terminology, such as "may", "might",
"potential", "expect", "anticipate", "estimate", "believe", "could", "should", "would", "will", "continue",
"intend", "plan", "forecast" or other similar words or phrases or variations thereof. For example, forward-
looking statements include, but are not limited to, statements with respect to operational and financial
performance including the Company's production and cost guidance for H2 2025, the ability to reduce
sustaining capital costs in 2026, the additional capital investment and underground development
planned for H2 2025, the potential of the McCreedy West Mine, mine development activities, the
composition of the Company's portfolio of assets, including its operating mines, development and
exploration projects, and Magna's future plans, and those statements found, among other sections of this
press release, under the headings "Highlights" and "Table 1. Operating Guidance for Q3 & Q4 2025".
Forward-looking statements are necessarily based upon a number of assumptions that, while
considered reasonable by management, are inherently subject to business, market, economic, technical
and other risks, uncertainties and contingencies that may cause actual results, performance or
achievements to be materially different from those expressed or implied by forward-looking statements,
including risks and uncertainties relating to the Company's present and future business strategies,
operations performance within expected or budgeted ranges, including targeted mining rates and the
availability of additional investment capital, personnel, contractors, equipment and supplies, anticipated
future production and cash flows, including the failure to accurately estimate production, costs, cash
flows and other forecasted operating and financial measures in this press release, the ability of the
Company to achieve expected further development or production at the McCreedy West Mine, results of
exploration programs, including the failure of additional drilling to realize anticipated growth in resources
or additional definition or delineation of current resources, delays for assay results, changes in disclosed
resources or reserves that are only estimated, local and global economic conditions and the environment
in which the Company will operate in the future, the prices of base and precious metals (including
copper, nickel and PGM minerals) and key commodities, projected mineral grades, international
exchanges rates, anticipated capital and operating costs, the inability to raise the financing necessary to
incur the expenditures required to retain and advance the Company's properties, environmental liabilities
(known and unknown), accidents, labour disputes and other risks inherent in the mining industry, political
instability, terrorism, insurrection or war, the availability and timing of required governmental and other
approvals for the operation or development of the Company's projects and other risks disclosed in the
Company's most recent management discussion and analysis. For a more detailed discussion of such
risks and other factors that could cause actual results to differ materially from those expressed or implied
by such forward-looking statements, refer to Magna's filings with Canadian securities regulators,
including the most recent management discussion and analysis, available on SEDAR+ at
www.sedarplus.ca
.
Although the Company has attempted to identify important risks, uncertainties, contingencies and factors
that could cause actual results to differ materially from those expressed or implied in forward-looking
statements, there can be no certainty or assurance that the Company has accurately or adequately
captured, accounted for or disclosed all such risks, uncertainties, contingencies or factors. Readers
should place no reliance on forward-looking statements as actual results, performance or achievements
may be materially different from those expressed or implied by such statements. Resource exploration
and development, and mining operations, are highly speculative, characterized by several significant
risks, which even a combination of careful evaluation, experience and knowledge will not eliminate.
Forward-looking statements speak only as of the date they are made. The Company does not undertake
to update any forward-looking statements, whether as a result of new information or future events or
otherwise, except in accordance with applicable securities laws.
Non-IFRS Performance Measures
The Company has included certain terms or performance measures commonly used in the mining
industry in this press release that are not defined under IFRS, which include cash costs and all-in
sustaining costs. With respect to non-IFRS performance measures, please refer to the section in the
Company's Q1 2025 Management Discussion and Analysis entitled "Non-IFRS Performance Measures"
for the definitions and reconciliation of such non-IFRS performance measures to the consolidated
financial statements of the Company. Non-IFRS performance measures do not have any standardized
meaning under IFRS, and therefore, they may not be comparable to similar measures employed by other
companies. Such measures are intended to provide additional information and should not be
considered in isolation or as a substitute for measures prepared in accordance with IFRS and should be
read in conjunction with the Company's financial statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press
release.
About Magna Mining Inc.
Magna Mining is a producing mining company with a portfolio of copper, nickel and PGM operating,
exploration and development projects in the Sudbury Region of Ontario, Canada. The Company's
primary assets are the producing McCreedy West copper mine and the past producing Levack,
Podolsky, Shakespeare and Crean Hill mines. Additional information about the Company is available on
SEDAR (
www.sedar.com
) and on the Company's website (
www.magnamining.com
).
For further information, please contact:
Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Senior Vice President
705-482-9667
Email:
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