This post was originally published on this site.Magna Mining (TSX: NICU; US-OTC: MGMNF) has approved a C$70-million ($49 million) restart of its Levack nickel-copper mine near Sudbury, Ont., targeting commercial production by mid-2028. Thursday’s preliminary economic assessment values Levack, about 400 km north of Toronto, at $227 million after tax using a 7% discount rate. That’s less than half Desjardins analyst Bryce Adams’ $497-million estimate at comparable metal prices, although he sees a stronger production plan for the mine’s contact nickel zones. “The Contact Zone plan is stronger than we modelled, but the PEA excludes R2 which we view as...

This post was originally published on this site.UK-headquartered gold offtake company SigraFi said Thursday it has secured a $35 million credit facility to finance gold supply.   The facility is provided by a consortium of British and UAE investors led by UAE-based Ronin Commercial Brokers LLC and provides SigraFi with the capital to expand current operations with its contracted suppliers in the DRC, Zambia and South America, and to contract new cooperatives and aggregators.  SigraFi purchases gold under multi-year contracts from organised artisanal and small-scale gold mining (ASGM) cooperatives and is partnered with PeaceGold in the eastern DRC, working with 11 cooperatives representing 25,000...