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Magna Mining Inc. (V:NICU)

Business Focus: Specialty Mining & Metals (NEC)

INK Edge Outlook

Mostly sunny as of January 01, 2023
For the latest outlook, get the company report

Insider Chart - Past 6 Months

Insider Filings

Latest 10 SEDI filings for NICU within the last 6 months
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Company News

Jan 25, 2023 13:24 ET
Magna Mining Closes C$18 Million Private Placement of Flow-Through Shares and Common Shares
Sudbury, Ontario--(Newsfile Corp. - January 25, 2023) - Magna Mining Inc. (TSXV: NICU) (the "Corporation") is pleased to announce that it has closed its previously announced "best efforts" private placement of an aggregate of (i) 8,236,914 common shares of the Corporation that will qualify as "flow-through shares" (the "Charitable Flow-Through Shares") (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") at a price of $1.815 per Charitable Flow-Through Share for aggregate gross proceeds of approximately $14.95 million; and (ii) 2,681,872 common shares of the Corporation (the "Common Shares") at a price of $1.10 per Common Share for aggregate gross proceeds of approximately $2.95 million (together, the "Brokered Offering"), including the full exercise of the option granted to the Agents. The Brokered Offering was led by Canaccord Genuity Corp., on behalf of itself and Research Capital Corporation, Paradigm Capital Inc., Desjardins Securities Inc. and BMO Capital Markets (collectively, the "Agents"). In addition, the Corporation also sold an additional 45,400 Common Shares at a price of $1.10 per Common Share for aggregate gross proceeds of $49,400 on a non-brokered private placement basis (the "Non-Brokered Offering", together with the Brokered Offering, the "Offering").
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Jan 12, 2023 10:00 ET
Magna Mining announces financing as company looks to ramp up exploration in 2023
Magna Mining CEO Jason Jessup told Proactive the company has entered into an agreement with Canaccord Genuity to help facilitate a financing. Jessup explained more about the financing and working with Canaccord. He also talked about the company’s recent drill results.
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Valuation Ratios

Industry
Sector
Beta
N/A
--
--
Price to Sales - TTM
--
8.91
5.15
Price to Book - most recent quarter
56.54
2.72
2.25
Price to Cash Flow per share - TTM
--
16.40
9.43
Price to Free Cash Flow per share - TTM
--
40.36
19.31
See all valuations

Short Report

DateNumber of Shares ShortedNet Change
Jan 15, 20231,469,214320,821
Dec 31, 20221,148,393105,504
Dec 15, 20221,042,889859,164
See Short Report

Business Summary

Sector:  Basic Materials Industry:  Specialty Mining & Metals

Magna Mining Inc. is a Canada-based exploration and development company. The Company is focused on nickel, copper, and platinum group minerals (PGM) projects in the Sudbury Region of Ontario, Canada. The Company's projects include Shakespeare project, P-4 project, Shining Tree project and Denison project. Shakespeare project is a past producing Ni-Cu-PGM project located 70 Kilometers (km) south west of Sudbury. It has major permits for the construction of a 4500 ton per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180 square kilometers (km2) prospective land package. The P-4 Project is located in Porter Township, approximately 5 km North East (NE) of the Shakespeare Mine. The Shining Tree project is located 100km north of Sudbury, Ontario, and is within trucking distance of milling facilities. The Denison project is in the southwest corner of the Sudbury Basin, approximately 28 kms west-southwest of the town of Sudbury, Ontario.

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