Finance
Magna Mining Reports Results of Crean Hill Pre-Feasibility Study With Construction to Begin in 2027
Magna Mining Inc.
Key takeaways
- Magna Mining's Board of Directors approved construction of the Crean Hill Mine.
- Formal start of construction for Crean Hill is expected in the first half of 2027.
- Initial capital cost for the project is estimated at $127.0 million.
- Base case economics outline an after-tax NPV of C$251.0 million and an after-tax IRR of 43.4%.
Magna Mining Inc. announced the results of a Pre-Feasibility Study for its 100%-owned Crean Hill Project in the Sudbury Basin, Ontario. Following the study, the company's Board of Directors approved the construction of the Crean Hill Mine. Formal construction is scheduled to begin in the first half of 2027, with preliminary engineering, site preparation, and procurement starting immediately. The project carries an estimated initial capital cost of $127.0 million and a net initial funding requirement of $72.4 million.
Paves the way for formal construction of the Crean Hill copper-nickel project in 2027.
By the numbers
- C$127.0M
- Estimated initial capital required for Crean Hill Project
- 43.4%
- Base case after-tax IRR for Crean Hill Project
- C$251.0M
- Base case after-tax NPV7% for Crean Hill
- 1.5 years
- Base case after-tax payback period for mine
- C$261.7M
- Estimated sustaining capital from commercial production onward
How it unfolded
- Magna Mining released Crean Hill PFS results.
- Formal start of construction expected at Crean Hill.
- Magna to release Q3 2026 financial results.
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Common questions
- What happened with Magna Mining Inc.?
- Magna Mining's Board of Directors approved construction of the Crean Hill Mine.
- Where can I read the original report?
- Read the full report at Financial Post.
