Magna Mining Company (Neonatal intensive care unit-TSXV, MGMNF-OTCQB, BYD-FSE) on Friday it will exit the TSX Venture Exchange to the Toronto Stock Exchange. The shares will begin trading on the TSX at market open on June 23, 2026, and will continue to trade under the symbol NICU, the company said.
Concurrent with graduation to the TSX, the common shares will be delisted from the TSX Venture Exchange.
“Graduating to the Toronto Stock Exchange is a significant milestone for Magna and reflects the significant progress we have made in building a new Sudbury-focused Canadian mining company,” said Jason Jessop, Magna CEO.
On Friday, Magna shares fell 3.2%, or $0.07, to $2.12. Shares are trading in a 52-week range of $3.94 to $1.64.
Magna was in the news last year when it reached an agreement with a subsidiary of KGHM International Ltd. To acquire a portfolio of base metal assets in the Sudbury Basin in Ontario.
Magna has agreed to acquire the producing McCreedy West Copper mine, the former producing Levack mine, the Podolsky mine, and the Kirkwood mine as well as the Falconbridge Footwall (81.41%), Northwest Foy (81.41%), and the North Range and Rand exploration assets.
As a result, Magna said it will immediately become a copper and nickel mining company with a broad portfolio of development and exploration assets in Canada’s major significant mining region.
The company’s main assets are the Shakespeare and Crane Hill mines. Shakespeare is a project in the feasibility stage and has major permits to build a 4,500 tonne per day open pit mine, processing plant and tailings storage facility. Crean Hill is a former nickel and copper mine and PGM mine.
During the first quarter of 2026, Magna generated a positive cash margin of $6.0 million at its Macready West copper, precious metals and nickel mine. In the first quarter, 82,296 tonnes of ore was processed from Macready West’s 700 Footwell copper zone at a 3.38% copper equivalent (CuEq) grade based on metal prices achieved in the quarter.
The company produced 2.1 million pounds equivalent payable in the first quarter of 2026. With tonnage and grades expected to increase from Q1, the company continues to expect to achieve full-year production guidance of 16-18 million pounds payable.
Other highlights from the first quarter included quarterly cash costs and all-in sustaining costs of $3.48 per CuEq and $4.21 per pound CuEq, respectively.
The company ended the quarter with cash equivalents of $35.6 million and a working capital balance of $53.7 million.
Prior to the acquisition of the Levack mine in the first quarter of 2025, company officials believed there was still potential to discover other high-grade copper, nickel and precious metal deposits in the environment as old as the property. In the first quarter, the company completed a breakout connected to Vale’s Coleman Mine and continued to expand and define the R2 Footwall copper precious metal discovery area. The preliminary economic evaluation for the Levack project is on track for completion in the third quarter, along with the pre-feasibility study for the Crean Hill project.
