{kanada_flagge}Following the upgrade of its ore processing plant, Nicola Mining Inc. (TSX.V: NIM; FRA: HLI) has commenced milling operations using material supplied by Osisko Development Corp. (NYSE: ODV, TSX.V: ODV). Nicola’s fully permitted mill can process both gold and silver mill tailings using gravity and flotation processes. The company previously reported on Jan. 9, 2023, that the two parties had signed a profit-sharing agreement. In addition, Nicola is registering a significant increase in mining activity in British Columbia. As a result, the Company is currently in discussions with several parties regarding future mining and mill profit sharing agreements beyond the Osisko Agreement.
{kanada_flagge}Following the upgrade of its ore processing plant, Nicola Mining Inc. (TSX.V: NIM; FRA: HLI) has commenced milling operations using material supplied by Osisko Development Corp. (NYSE: ODV, TSX.V: ODV). Nicola’s fully permitted mill can process both gold and silver mill tailings using gravity and flotation processes. The company previously reported on Jan. 9, 2023, that the two parties had signed a profit-sharing agreement. In addition, Nicola is registering a significant increase in mining activity in British Columbia. As a result, the Company is currently in discussions with several parties regarding future mining and mill profit sharing agreements beyond the Osisko Agreement.
Nicola owns the only processing plant in the province of British Columbia that is permitted to accept gold and silver mill material from third parties throughout the province and can therefore benefit from increased activity.
Possible increase in milling capacity from 200 to 500 tonnes per day
Given the increased demand for Nicola’s mill, the company is considering increasing the size of its ball mill from its current capacity of 200 tons to 500 tons per day to optimize performance. The modern mill was built on the premise that it can be upgraded for higher throughput in the future. Its flotation capacity is already capable of handling higher production.
Peter Espig, CEO of Nicola, said, “We are pleased with the increasingly optimistic environment in the mining industry in BC. We are receiving more and more inquiries regarding mining and processing partnerships, both for long-term agreements and bulk sampling. In addition to resuming gold production, we are currently completing the first phase of exploration on our flagship property, the New Craigmont Copper Project.”
Nicola Mining Inc. is a junior mining company listed on the TSX Venture and Frankfurt Stock Exchange that operates a 100% owned mill and tailings facility near Merritt, British Columbia.
The company owns 100% of the New Craigmont project, a high-grade copper property covering 10,084 hectares along the southern end of the Guichon batholith and adjacent to Teck Resources Ltd.’s Highland Valley Copper, Canada’s largest copper mine.
Summary: Nicola stands out among junior mining companies because it has multiple sources of cash flow. Accordingly, Nicola recently announced a buyback right for up to four million shares. Add to that the exploration upside of the wholly owned New Craigmont copper project in close proximity to the historic Craigmont copper mine. Just earlier in February, the company appointed Brent Omland, Co-Chief Executive Officer of Ocean Partners, to the Nicola Mining Inc. board. Brent Omland has been Chief Financial Officer and a director of Ocean Partners Holdings Limited since 2013. In 2023, Mr. Omland was appointed Co-CEO of Ocean Partners. Omland also worked in finance roles for Teck Cominco. Mr. Omland is a graduate of the University of British Columbia (Commerce) and is a Canadian Chartered Accountant with 20 years of experience in the mining, metals and trading businesses.
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