Magna Mining Lists on TSX After 29.7% Copper-Equivalent Intercept

Magna Mining began trading on the Toronto Stock Exchange on June 23 under the ticker NICU, after graduating from the TSX Venture Exchange the same day. Alongside the listing, the company reported a 29.7% copper-equivalent intercept from the R2 Footwall Zone at its past-producing Levack Mine in Sudbury, Ontario.

The main intercept ran 9.4% copper, 2.3% nickel, 19.8 g/t gold and 8.8 g/t combined platinum and palladium over 3.4 metres. A second 0.4-metre interval graded 26.2% copper and 19.4 g/t combined platinum and palladium.

A copper-equivalent grade of nearly 30% is rare even among high-grade underground operations. The TSX listing broadens the stock's potential investor base, since many institutional funds require a senior exchange listing.

Magna said any restart decision at Levack will follow a preliminary economic assessment due in the third quarter, with a final call expected in the second half of 2026. The PEA will lay out capital costs, mining rates and processing options for the former mine.

The intercept adds to the pipeline of high-grade copper-nickel projects in Canada, a theme covered regularly in AlphaScala's commodities analysis. The Sudbury basin has been a source of nickel and copper for over a century, and Levack's past production history reduces some geological uncertainty.

That assessment will determine whether Levack moves to production.