Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Nicola Mining Inc V.NIM

Alternate Symbol(s):  HUSIF

Nicola Mining Inc. is a Canada-based junior mining company. The Company maintains a 100% owned mill and tailings facility, located near Merritt, British Columbia. The Company owns 100% of the New Craigmont Project, a high-grade copper property, which covers an area of approximately 10,913 hectares (ha) along the southern end of the Guichon Creek Batholith and is adjacent to Teck Resources Ltd.'s Highland Valley Copper. The Company also owns 100% of the Treasure Mountain Property, which comprises approximately 51 mineral tenures, 21 legacy claims: 100 cell units, and five crown grants for a total of approximately 2,850 ha. The Company’s Merritt Mill Property is host to an active run gravel pit, which is located on District Lot 4234. Situated in the heart of the Thompson-Okanagan mining district, the Merritt mill and tailings site consists of approximately 980 acres of fee simple land. The Company also maintains a 75% economic interest in the Dominion Creek Property.


TSXV:NIM - Post by User

Bullboard Posts
Post by RGS1on Apr 19, 2016 11:19am
240 Views
Post# 24783535

headed to production/cash flow !!!

headed to production/cash flow !!!Nicola Mining Inc. has received an amendment to its M-68 mine permit. The amendment allows the company to enter into third party custom milling contracts and enables it to mill up to 200 tonnes per day at its wholly owned Craigmont mine site, located 10 kilometres from Merritt, B.C.

The company's mill is constructed on a freehold I-3 industrial zoned site that Nicola acquired for $8-million. Nicola then constructed a new $21-million processing mill and $2-million fully lined tailings facility. Nicola is capable of processing both gold and silver mill feed by utilizing gravity and floatation systems to create concentrates, and is currently considering installing ovens that will allow it to pour dore bars.

Nicola expects to start receiving material from Siwash Minerals Inc. in early May and plans to commence milling upon receipt of 1,000 tonnes. As disclosed in the Nov. 2, 2015, news release, the miner is required to use its best efforts to transport greater than 7.08738 grams per tonne gold to the company's processing facility. In addition to the miner, the company has entered into three other milling profit share agreements and continues to discuss with other high-grade gold sources. Currently, all of the milling profit share agreements are with gold-focused mining properties.

Given the complexities and costs of attaining a mill site in British Columbia, the company is positioning itself as a milling hub for high-grade gold properties located in the province. Under the amendment to permit M-68, Nicola is required to notify the chief inspector at least 10 days prior to initiating a change in mill feed from each unique mill source.

Peter Espig, chief executive officer, commented: "The amendment to permit M-68, which approves milling of third party material, is a monumental milestone. We have moved a huge step towards generating revenues and establishing ourselves as a province-wide milling hub for mining projects. I would like to thank the team, especially our chief financial officer, Warwick Bay, who has worked diligently in moving the company forward."


Bullboard Posts