Nicola Mining Inc.N
Nicola Mining Inc. (TSXV: NIM, Nasdaq: NICM) operates the Merritt Mill, a fully permitted, 200 tonnes-per-day custom milling facility near Merritt, British Columbia -- the only facility in the province permitted to process third-party gold, silver and lead ore. Built in 2012 (on land purchased in 2011) at a combined cost of roughly C$30 million including a lined tailings facility, the mill has since been upgraded (gravity jig and tabling circuits added from 2021) and, through a purchase contract with Ocean Partners UK Limited, sells the resulting gold-silver concentrate worldwide -- 'gold production' in this sense (as distinct from pure toll-milling fees) began in 2023, and the company announced it had moved to LONG-TERM production of gold and silver concentrate in 2025. Nicola's own segment reporting separates this 'custom milling operations' segment (2024 revenue: C$818,000 milling + C$1.97 million from gravel/ash/soil and other income) from a distinct 'mineral exploration and development' segment covering the 100%-owned New Craigmont copper project (a 2020 Inferred-only resource, 18.7 Mt @ 0.13% Cu) and the Dominion Creek gold-silver bulk-sample project (a 75%/25% JV with High Range Exploration Ltd) -- the company's own filings describe this second segment as still 'in the exploration or pre-commercial development stage,' and extraction at Dominion Creek had not yet started as of a 1 Jun 2026 filing (targeted for 'first week of July' 2026).
Notable vs. Peers
- Trading within 3% of its 52-week low — weak recent price momentum.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Reached — date not disclosed · Source
- Jan 2023 · Source
- Jan 2025 · 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.
Jurisdiction (40%)9/10
British Columbia: Fraser PPI 2025 is 74.28 of 100 (rank 31 of 68), which maps to 9 on this site's scale. Nicola's Merritt mill is in British Columbia, a Tier-1 Canadian mining jurisdiction.
Infrastructure (40%)10/10
A confirmed mill, confirmed road access, confirmed grid power, and a confirmed tailings facility at Merritt Mill (Custom Milling/Toll-Processing Facility), near Merritt, British Columbia, Canada.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
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: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - 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% · 57% 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% · 26% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% 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
President, CEO and Director of Nicola Mining Inc., appointed CEO July 2013. Directly owns a meaningful equity stake in the company.
Director of Nicola Mining Inc. CEO and Director of Ocean Partners, joined 2013. Graduate of the University of British Columbia (Commerce); Canadian Chartered Accountant with 20 years' experience in mining, metals and trading.
Director of Nicola Mining Inc. Qualified as a Mining Engineer in 1971 from the Royal School of Mines; Fellow of the Institute of Mining and Metallurgy, Chartered Engineer, European Engineer, and Professional Engineer in BC until his 2020 retirement from professional practice. Former director of NorZinc Ltd. (2016-2020) and Silvercorp Metals Inc. (2013-2017).
CFO of Nicola Mining Inc. since 2024. Certified Public Accountant with 18+ years of international mining/resource-sector experience. Former CFO at Chesapeake Gold Corp., Core Gold Inc. (2016-2020), and CFO & Director at G2 Energy Corp. (2022-2023).
Corporate Secretary, IR & Business Development of Nicola Mining Inc.
VP Finance of Nicola Mining Inc.
VP of Exploration of Nicola Mining Inc.
Independent Director of Avrupa Minerals Ltd., appointed effective 2 Aug 2016, and Chairman and Director of Nicola Mining Inc. Senior financial executive; MBA (financial management, banking, international business) from the University of Nürtingen, Germany. CEO of Peter Beck Performance Funds GbR and Peter Beck & Partner Vermögensverwaltung GmbH; sits on the advisory board of Concept Capital Management. Also serves as an independent director/chairman on several other resource-company boards (Canamex Gold, Golden Goliath Resources, Lake Victoria Gold, Monarca Minerals).
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Nicola Mining operates the Merritt Mill near Merritt, British Columbia, a fully permitted 200-tonne-per-day custom milling facility built in 2012, which it describes as the only facility in the province permitted to process third-party gold, silver and lead ore. As a merchant processor it treats ore owned by others and has no mineral deposit of its own behind its production; it sells gold-silver concentrate under a purchase contract with Ocean Partners UK and announced the start of long-term gold and silver production in 2025. The company also holds 100% of the New Craigmont copper exploration project, which has only an inferred resource, and 75% of the Dominion Creek gold-silver joint venture with High Range Exploration, a bulk-sample operation without a defined resource.