Magna Mining Inc. Reports Third‑Quarter 2025 Results
Sudbury, Ontario – 25 November 2025 – Magna Mining Inc. (TSXV: NICU, OTCQX: MGMNF, FSE: 8YD) announced its financial performance for the third quarter of 2025. The company’s management will address the results in a conference call scheduled for 26 November at 8:00 am EST.
Key Highlights
| Metric | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|
| Tons processed | 75,215 | 70,045 | 20,388 |
| Copper‑equivalent grade (%) | 2.64 | 3.26 | 3.01 |
| Copper‑equivalent payable (lbs) | 2,735,000 | 3,053,000 | 790,000 |
| Net revenue | C$16.28 M | C$18.47 M | C$4.45 M |
| Net income (loss) | (C$10.64 M) | (C$9.50 M) | C$29.10 M |
| Adjusted net loss | (C$10.41 M) | (C$8.93 M) | (C$5.44 M) |
| Cash margin | (C$2.04 M) | (C$1.19 M) | C$0.27 M |
| Operating cash flow | (C$10.78 M) | (C$11.56 M) | (C$2.58 M) |
| Free cash flow | (C$14.35 M) | (C$10.72 M) | (C$10.58 M) |
| Per‑share net earnings (loss) | (C$0.05) | (C$0.05) | C$0.15 |
The company reported a non‑GAAP earnings per share of –C$0.05 and total revenue of C$16.28 million for the quarter. These figures are consistent with the audited results, underscoring the company’s ongoing commitment to transparency and fiscal discipline.
Operational Progress at McCreedy West
CEO Jason Jessup emphasized that the third‑quarter operations were largely driven by the investment plan for the McCreedy West mine. The company has focused on:
- Underground development to access higher‑grade stopes.
- Diamond drilling to delineate new high‑grade zones.
- Upgrades to equipment and site infrastructure to improve throughput and safety.
Jessup noted that higher‑grade stopes were successfully reached in early November, following the resolution of operational issues that had constrained production earlier in the quarter. The company is now positioned to realize the benefits of these improvements in the first quarter of 2026.
Guidance and Outlook
Magna Mining remains on track to meet the lower end of its quarterly ore‑sales guidance for Q4 2025. The management team is prioritizing:
- Consistent and flexible mine planning to accommodate varying ore grades.
- Efficient cost management to improve cash margins.
- Strategic capital deployment to sustain production growth into 2026.
Financial Position
- Cash and cash equivalents stood at C$63.1 million at the end of Q3 2025, a significant increase from C$27.0 million at the close of Q2.
- Working capital expanded to C$70.4 million, reflecting stronger liquidity.
- Total assets rose to C$212.7 million, up from C$163.5 million in Q2.
These balances provide a solid foundation for the company’s upcoming exploration and development activities, particularly in the Sudbury region where Magna Mining continues to lead in nickel, copper, and PGM exploration.
The company’s market capitalization of approximately C$642 million and a price‑earnings ratio of 49.77 reflect the market’s expectation of significant upside as the McCreedy West project progresses toward profitable production. With the current share price at C$2.68 (as of 24 November 2025) and a 52‑week high of C$3.35, investors have a clear trajectory to anticipate in the coming year.
