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Magna Mining (NICU) investor relations material

Magna Mining Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary26 Nov, 2025

Executive summary

  • Q3 2025 marked the second full quarter of operations at McCreedy West and Pre-U.S. mine, with 75,215 tons processed at a 2.64% copper equivalent grade and sequential improvement in tonnage and development rates despite operational setbacks.

  • Quarterly production reached 2.74 million lbs CuEq, impacted by delays but with access to higher-grade stopes achieved in early November.

  • Workforce expansion, equipment investment, and infrastructure upgrades continued to support growth and operational optimization.

  • Progress advanced at Levack mine, including the first NI 43-101 mineral resource estimate and ongoing exploration for new copper-precious metal-rich discoveries.

  • The company remains well-funded following a brokered equity offering and warrant exercises, eliminating all outstanding warrants.

Financial highlights

  • McCreedy West Mine generated net revenue of $16.3 million in Q3 2025, down from $18.5 million in Q2.

  • Adjusted net loss was $10.4 million, or ($0.05) per share.

  • Operating cash outflow was $14.4 million, with free cash outflow of $14.4 million, including $4.2 million in capital expenditures.

  • Cash balance at September 30, 2025, was $63.1 million, with an additional $6 million raised from warrant exercises post-quarter.

  • Preliminary purchase price allocation from the KGHM asset acquisition resulted in a bargain purchase gain of CAD 36.6 million.

Outlook and guidance

  • Tracking toward the lower end of Q4 ore sales guidance, with improved copper equivalent grades expected as access to higher-grade stopes has been established.

  • 2026 operational guidance to be provided in January or early February 2026.

  • Life of mine plan with reserves for McCreedy West to be announced in Q1 2026.

  • Preliminary economic assessment (PEA) for Levack mine to be initiated before year-end and completed during 2026.

  • Well-funded to advance Sudbury projects and exploration following recent equity and warrant proceeds.

McCreedy West: Plan to achieve positive cash margin?
Levack restart: Ramp vs. shaft priority and timing?
Levack Morrison: Drill meters to add back tonnage?
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Frequently asked questions

Magna Mining Inc is a mineral exploration and development company focused on nickel, copper, and platinum group metal projects. The company engages in exploration activities such as drilling, resource estimation, and geological analysis to evaluate and advance its properties. Its primary operations are located in the Sudbury region of Ontario, Canada, a well-established mining area with existing infrastructure. The company is headquartered in Sudbury, Canada, and its shares are listed on the TSX Venture Exchange.

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