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An announcement from Magna Mining ( (TSE:NICU) ) is now available.
Magna Mining has engaged Technica Mining to complete a pre-feasibility study on its 100%-owned Crean Hill nickel-copper-precious metals project in Sudbury, with work starting in January 2026 and targeted for completion in the third quarter of 2026. The study will refine and update the robust economics outlined in the 2024 preliminary economic assessment, which envisioned a 13-year underground mine life, low pre-production capital requirements, rapid payback and sales to a third-party Sudbury mill, and will incorporate data from a 20,000-tonne bulk sample and recent engineering work on grid power and permanent dewatering. Conducted in parallel with a PEA on Magna’s Levack Mine, the Crean Hill pre-feasibility marks a key step toward a construction decision and underscores the company’s plan to establish itself as a multi-mine producer in the Sudbury Basin, potentially enhancing its production profile and strengthening its position in the regional nickel-copper-precious metals market.
The most recent analyst rating on (TSE:NICU) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on Magna Mining stock, see the TSE:NICU Stock Forecast page.
Spark’s Take on TSE:NICU Stock
According to Spark, TipRanks’ AI Analyst, TSE:NICU is a Neutral.
The score is held back primarily by weak cash generation (materially negative operating and free cash flow) and mixed underlying profitability signals despite positive net income. A low-leverage balance sheet and improving scale help offset this, and technicals are supportive with the stock trading above key moving averages. Valuation remains a risk given the very high P/E and lack of dividend support.
To see Spark’s full report on TSE:NICU stock, click here.
More about Magna Mining
Magna Mining Inc. is a Canadian mining company focused on the exploration and development of nickel, copper and precious metals projects in the Sudbury Basin of Ontario. Its portfolio includes the 100%-owned Crean Hill Project and properties acquired from KGHM, with a strategy of advancing multiple underground operations to become a multi-mine producer supplying base and precious metals to existing regional processing infrastructure.
Average Trading Volume: 422,303
Technical Sentiment Signal: Buy
Current Market Cap: C$911.8M
For a thorough assessment of NICU stock, go to TipRanks’ Stock Analysis page.