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Tag: Nicola Mining Inc

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Nicola Mining Inc. (TSXV:NIM) – Balance Sheet Materially Improves

Impact: Positive

Nicola has significantly de-risked its balance sheet with the full repayment of Senior Secured Debt owed to Waterton allowing the company to focus on its ongoing exploration efforts. We continue to view Nicola as a high-potential copper exploration story and await results from diamond drilling of the mineralized halo surrounding the existing pit and previously identified porphyry targets.

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Red Cloud | redcloudfs.com

Nicola Mining Inc. (TSXV:NIM) – Custom Milling Kicks-Off

Impact: Positive

Nicola to recommence milling for Gavin Mines, positioning itself as the only permitted mill to process third party Au-Ag ore. The mine anticipates shipping up to 40ktpy (~11.2g/t Au & ~100.8g/t Ag) to the Merritt Mill, which only fills ~50% of the mill’s capacity, leaving the remaining capacity open to be fed by other mines. The announcement supports our thesis of custom milling being a sweetener to what we believe is a high-potential copper-focused exploration story.

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Red Cloud | redcloudfs.com

Nicola Mining Inc. (TSXV:NIM) – Another Sweetener to a Copper Explorer

Impact: Positive

Higher cut-off grades applied by historic operators appear to have left a potential bulk mineable copper resource. Following positive results from the Phase 1 RC drilling program, Nicola is proceeding with Phase 2, focused on the South Waste Piles and 3060 Ore Portal zones. The objective is to define a resource for the copper-magnetite bearing crushed materials left behind at surface by previous operators. We note that a Waste Pile processing operation could help kick start a larger copper mining project at New Craigmont or be of interest to Teck Resources operating the low-grade Highland Valley copper mine next door. We continue to view Nicola as a high-potential copper exploration story and await results from diamond drilling of the mineralized halo surrounding the existing pit and previously identified porphyry targets.

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