Magna Mining Inc.
Magna Mining produces copper (with nickel/PGM byproducts) from its McCreedy West mine in Sudbury, Ontario, with a broader restart pipeline across Levack, Crean Hill, Podolsky, and Shakespeare. A pending 62.2 million-share Alpayana S.A.C. C$140 million placement was announced Jul 6 2026 but its closing had not been confirmed; the share count shown is the pre-placement figure, which could rise to ~313 million when the financing closes. Cash of CAD $35.8 million (Mar 31 2026, pre-Alpayana); no debt figure is available.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Sep 2024 · Source
- Feb 2025 · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not in place: mill, tailings facility.
Combined view across 2 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 129%Crean Hill Project, Sudbury, Ontario
- 13 yrsCrean Hill Project, Sudbury, Ontario
Jurisdiction (40%)9/10
Ontario: Fraser PPI 2025 is 93.70 of 100 (rank 5 of 68), which maps to 9 on this site's scale. Sudbury, Ontario, Canada — a top-tier mining jurisdiction.
Infrastructure (40%)5.7/10
No confirmed mill, confirmed road access, confirmed grid power, and no confirmed tailings facility at McCreedy West Mine, Sudbury, Ontario.
Nearby producing mine (20%)10/10
Sudbury INO (Strathcona Mill / Fraser mine) (Glencore plc) is 6 km away -- within shared-mill trucking range.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:9.4/10
Nearest producing mine: Sudbury INO (Strathcona Mill / Fraser mine) (Glencore plc), 6 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:8/10
Primary commodity: Copper
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Chief Executive Officer and Director of Magna Mining Inc. Over 25 years of experience in the mining industry spanning operations management, corporate development and project evaluation. Background includes FNX Mining, Sandstorm Gold, Premier Royalty and INCO.
Chief Operating Officer of Magna Mining Inc. (MBA, PMP) Over 20 years in operations management, project management and underground mine building. Previously President & COO at Dumas Contracting Ltd. Graduate of the Haileybury School of Mines.
Chief Financial Officer of Magna Mining Inc. (CA, CPA, CBV) Over 25 years of experience in finance roles in the mining sector. Former CFO at Wesdome Gold Mines Ltd. Holds a BBA from Lakehead University.
Senior Vice President, General Counsel of Magna Mining Inc. (JD) Almost 20 years of experience in the mining industry plus 25 years as a corporate/securities lawyer. Previously Senior Vice President, General Counsel at IAMGOLD Corporation.
Senior Vice President, Exploration and Geoscience of Magna Mining Inc. (M.Sc., P.Geo.) More than 25 years of base and precious metal experience. Former Vice President Exploration at TMAC Resources Inc.
Executive Vice President of Magna Mining Inc. (CFA) Over 17 years working with publicly-listed Canadian mining companies, with expertise in corporate development, M&A and capital raising. Most recently Manager, Corporate Development at Reunion Gold.
Senior Vice President, Capital Markets of Magna Mining Inc.; also a director of Premier American Uranium Inc. Over 20 years of capital markets experience in the mining sector, spanning institutional mining equity sales, fund management and mining equity research. Former CEO/President of Nuclear Fuels Inc.
A director of Magna Mining Inc. and Atico Mining Corporation. Chairman and CEO of Dundee Corporation, and President & CEO of Dundee Goodman Merchant Partners, a mining-focused merchant bank. Professional Engineer (Colorado School of Mines), MBA (University of Toronto), CFA charterholder. Led Dundee Precious Metals as President & CEO (1995-2013), then Executive Chairman (2013-2017) and Chairman of the Board (2017-2022); did not stand for re-election to DPM's board at its 5 May 2022 annual meeting. Independent director of Magna Mining Inc. (TSX: NICU) since 4 April 2022.
Independent Director of Magna Mining Inc. (TSX: NICU), on the board since the company's qualifying transaction closed 4 May 2021, re-elected at successive annual meetings (9 Jun 2023, 28 Jun 2024, 18 Jun 2026); also General Counsel & Corporate Secretary of Hemlo Mining Corp. Was Chief Legal Counsel for Detour Gold Corporation until its takeover by Kirkland Lake Gold. 13+ years of experience with Vale (Inco) in various legal/corporate roles including Head of Legal, Corporate and Assistant Secretary. Extensive M&A, joint-venture, and structured project-financing transaction experience. Also General Counsel and Corporate Secretary of Li-Cycle Holdings Corp. (NYSE, 2021-2025).
Lead Director of Wolfden Resources Corporation (TSXV: WLF); also a director of Magna Mining Inc. President and Chief Executive Officer of Apex Investigation and Security Inc., a large privately owned security company. Chair of the Audit Committee at Premier Gold since 2006, and former Chief Financial Officer of Premier Gold Mines (August 2006 to June 2012) and of Wolfden Resources Inc. (October 2002 to May 2007). From i-80 Gold Corp.'s 2021 inception, also a director of i-80 Gold (the Premier Gold Mines spin-out). Holds the ICD.D designation from the Institute of Corporate Directors.
Chairman of the Board of Magna Mining Inc. (TSX: NICU), on the board since the company's qualifying transaction closed 4 May 2021, re-elected at successive annual meetings (9 Jun 2023, 28 Jun 2024, 18 Jun 2026). Also known as "Vern Baker" (P.Eng., MBA) on Magna's own team page. +30 years of experience in the mining sector; currently CEO of Jaguar Mining Inc. (TSX: JAG). Previously General Manager of Goldcorp's Cerro Negro Mine, VP Operations at FNX Mining, and President of Duluth Metals.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Alpayana S.A.C., a real Peruvian mining company with six operating underground mines, has signed a binding agreement for a C$140 million, ~19.9% strategic investment, but the deal had not yet closed as of Magna's own August 2026 quarterly report (closing anticipated Q3 2026). Polygon Global Partners LLP, a London/New York multi-strategy hedge fund manager (part of Tetragon's TFG Asset Management platform), separately discloses a real 8% stake -- a sizeable position, but a generalist public-equities book rather than a resource-sector conviction bet. No genuine open-market insider buying was found in the two-year record.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Magna Mining produces copper, with nickel and platinum-group metal by-products, from the McCreedy West mine in Sudbury, Ontario, which it acquired from KGHM and restarted on 28 February 2025, and it holds a pipeline of Sudbury restart projects including Levack, Crean Hill, Podolsky and Shakespeare. Q2 2026 payable production was 4.5 million lb of copper-equivalent, with record quarterly tonnage at McCreedy West, and the cash cost in Q1 2026 was US$3.48 per copper-equivalent lb. The September 2024 Crean Hill preliminary economic assessment shows an after-tax NPV8% of US$143.8M (CAD 194.1M) and a 129% IRR over a 13-year life, and a Crean Hill pre-feasibility study and a Levack PEA were both due in Q3 2026. A C$140M placement of 62.2 million shares with Alpayana, announced on 6 July 2026, had not been confirmed as closed.
McCreedy West mine (Sudbury, Ontario, Cu-Ni-PGM), 2026 guidance 16-18 Mlb payable CuEq. Restart pipeline: Crean Hill (PFS targeted Q3 2026), Levack (PEA targeted Q3 2026, dewatering starting), Podolsky, Shakespeare. Neither the Crean Hill PFS nor the Levack PEA is complete yet -- no unified NPV/IRR/mine-life to cite.