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Magna Mining (NICU) investor relations material
Magna Mining Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record production at McCreedy West in Q2 2026, safely mining and shipping 98,446 short tons at a grade of 3.34% CuEq, producing 4.5 million copper equivalent payable pounds, and supporting strong operational momentum.
Completed one year without a recordable injury at McCreedy West, with a year-to-date TRIFR of 0.63, down 84% from 2025, reflecting a strong safety culture.
Generated record positive cash margin of CAD 8.9 million and free cash flow of CAD 5.1 million in Q2 2026, marking a significant turnaround from prior quarters.
Ended Q2 2026 with a cash balance of CAD 40 million and working capital of CAD 45.3 million, providing a strong liquidity position.
Announced a CAD 140 million strategic investment by Alpayana, expected to close in Q3 2026, enhancing financial flexibility and shareholder base.
Financial highlights
Q2 2026 net revenue was CAD 29.7 million, with a CAD 5.4 million reduction due to the precious metal stream.
Cash margin improved to CAD 8.9 million (CAD 1.41 per copper equivalent payable pound), up from CAD 6 million (CAD 1.06 per pound) in Q1.
Cash costs were CAD 3.76 per copper equivalent payable pound; all-in sustaining costs (AISC) were CAD 4.54 per pound.
Q2 2026 operating cash flow was CAD 8.9 million (CAD 0.04 per share), and free cash flow was CAD 5.1 million (CAD 0.02 per share), reversing a free cash outflow of CAD 19.5 million in Q1 2026.
Adjusted net loss for Q2 2026 was CAD 8.2 million, or CAD 0.03 per share.
Outlook and guidance
On track to meet full-year 2026 guidance at McCreedy West, including production of 16.0–18.0 million copper equivalent payable pounds.
Cash flow from McCreedy West supports advancement of Crean Hill and Levack projects.
Levack preliminary economic assessment (PEA) and Crean Hill pre-feasibility study (PFS) expected to be completed in September 2026, informing construction and restart decisions.
Anticipate releasing Levack PEA results in mid-September, with a formal restart decision to follow.
- Strong cash flow and resource growth in Sudbury underpin multi-asset production expansion.NICU
Corporate presentation - Strong Q1 2026 cash margin, production, and liquidity with ongoing project progress.NICU
Q1 2026 - Record Q4 2025 production and robust resource base drive growth and upcoming project milestones.NICU
Corporate presentation - Record Q4 production and a $3.3M cash margin support strong liquidity and 2026 growth.NICU
Q4 2025 - Sudbury-focused production and exploration pipeline supports multi-year growth and value creation.NICU
Corporate presentation - Strong Q3 production and a deep Sudbury project pipeline underpin significant growth potential.NICU
Corporate Presentation - Q3 2025 production hit 2.74M lbs CuEq, with strong cash reserves and operational improvements ongoing.NICU
Q3 2025 - Acquisition expands Sudbury assets, enabling copper-focused growth and exploration with minimal dilution.NICU
M&A Announcement - Major project milestones, exploration, and acquisitions drive growth and cash flow outlook.NICU
Investor Update
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