Analysts See Target Price at 0.70 CAD
Analysts at Noble Capital Markets have recently examined the Canadian gold, silver, and copper company Nicola Mining (WKN A3D3LF / TSXV NIM) and given it an “Outperform” rating. Noble sets the target price for Nicola’s stock at 0.70 CAD or 0.50 USD per share. From the current price level (0.37 CAD), this represents a price potential of more than 89%!
According to the experts, this is justified because Nicola Mining is a unique junior exploration company with significant discovery and value creation potential through its New Craigmont copper project, the high-grade Treasure Mountain mine (silver, lead, and zinc), and the Dominion Creek gold project (75% Nicola). Furthermore, Noble states that the company owns 100% of the only mill licensed to accept and process material from all over British Columbia. The Merritt Mill, along with a sand/gravel pit and a quarry, already generates cash flow to at least partially finance Nicola Mining’s exploration and operational programs. This minimizes the need for further dilution, the analysts explained.
Significant Discovery Potential
Regarding the New Craigmont copper project, Noble points out that it is located in the so-called Quesnel Trough, one of Canada’s richest copper belts, and is surrounded by former and currently producing mines. Additionally, New Craigmont borders Teck Resources’ Highland Valley copper mine, the largest copper mine in Canada. The name New Craigmont comes from the historical open-pit and underground Craigmont mine, which operated on the property between 1961 and 1982. In total, the Craigmont mine produced more than 36.75 million tons of ore with an average grade of 1.28% copper. The amount of contained copper metal thus amounts to 900 million pounds.
New Drilling Season Begins in June
As Noble’s analysts further elaborate, Nicola has already conducted more than 18,000 meters of drilling on New Craigmont and has also carried out extensive geological mapping and studies. In 2024, the company completed a geophysical survey to define additional drill targets in the WP, MARB, and CAS zones, where they later conducted drilling. Two drill holes were also sunk in the Embayment Zone, with which Nicola was able to expand the known mineralization zones. The results of this work also indicated potential for a copper porphyry system. Nicola Mining has already selected targets in this area for the 2025 drilling season, which is set to begin in June 2025.
Noble Capital Markets is also very positive about Nicola Mining’s team. CEO Peter Espig can look back on a successful career as an investment banker and turnaround specialist, having held senior positions at Goldman Sachs and Olympus Capital. Nicola thus benefits from a talented management team and a board with relevant experience in mining, geology, and finance, it was further stated.
The full analysis can be found in English here: https://nicolamining.com/wp-content/uploads/2025/05/20250508_Noble_Research_Report_NIM-CA.pdf
