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Magna Mining Announces Q4 Production Results
Globenewswire· 2026-01-20 11:45
Core Viewpoint - Magna Mining Inc. reported strong Q4 2025 production results from the McCreedy West Mine, highlighting increased operational flexibility and improved ore grades, setting a positive outlook for 2026 [1][2]. Production Results - The company shipped 84,953 tons of ore in Q4 2025, representing a 13% increase from Q3 2025 [1][4]. - The average grades for the ore shipped included 1.31% copper, 0.23% nickel, 1.05 g/t platinum, 1.10 g/t palladium, 0.45 g/t gold, and 15.51 g/t silver [3][4]. Operational Developments - Underground development totaled 1,688 feet in Q4, aligning with company expectations [1][4]. - Diamond drilling footage increased to 29,334 feet, a 91% rise compared to Q3 2025, providing critical geological information for current and future mining operations [1][4]. Economic Context - The company noted that despite copper being the primary metal, grades for gold, platinum, and palladium were more than double those in Q3, with silver grades increasing by over 40% [2]. - The operational and economic momentum entering 2026 is bolstered by high copper prices and a rebound in nickel prices [2]. Future Outlook - A Life of Mine plan for McCreedy West, including a maiden reserve estimate, is expected to be released soon, along with 2026 guidance [1]. - The company aims to focus on quality production by removing low-grade stopes from mining plans [2].