Magna Mining Inc. has released the results of an updated preliminary economic assessment (PEA) on its 100% owned Crean Hill Project in Sudbury, Ontario. The PEA highlights the project's strong potential with robust pre-tax and post-tax net present value (NPV) and internal rate of return (IRR). A detailed technical report supporting the PEA will be filed with regulatory authorities within 45 days.
Sudbury , Ontario -- - Magna Mining Inc. issued a news release earlier today announcing the results of an Updated Preliminary Economic Assessment by SGS Geological Services on its 100% owned Crean Hill Project located in Sudbury , Ontario , Canada.
news release contained two summary tables outlining the Pre and Post Tax NPV and IRR's of the Crean Hill Project. Table 1 contained the correct numbers, while table 9 incorrectly understated the corresponding numbers. The correct numbers are as follows .A technical report supporting the PEA will be filed by the Company with Canadian securities regulatory authorities within 45 days of this news release. The technical information in this press release has been reviewed and approved by David King, M.Sc., P.Geo. Mr. King is the Senior Vice President, Exploration and Geoscience for Magna Mining Inc. and is a qualified person under Canadian National Instrument 43-101.Magna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury region of Ontario, Canada. The Company's flagship assets are the past producing Shakespeare and Crean Hill Mines. The Shakespeare Mine is a feasibility stage project which has major permits for the construction of a 4,500 tonne per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180kmprospective land package. Crean Hill is a past producing nickel, copper and PGM mine with a technical report dated September 2024. Additional information about the Company is available on SEDAR accept responsibility for the adequacy or accuracy of this press release.CFIUS needs more time to understand the impact of national security and engage with the parties, the Reuters source added.US Steel CEO confident Nippon Steel deal will close ‘on its merits’An affiliate of Kinterra Capital made a stalking horse bid of $128 million for substantially all of Nevada Copper's assets last month.Magna Mining PEA update hikes return five-fold for Crean Hill nickel project The PEA gives the underground mine a base case post-tax net present value of C$194.1 million.Midnight Sun solves Zambian licence error
Magna Mining Crean Hill Project Sudbury Ontario Preliminary Economic Assessment Nickel Copper PGM
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