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![drjimjonesceo Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1045155414214619136.png) Doc Jones Resource Investor [@drjimjonesceo](/creator/twitter/drjimjonesceo) on x 8139 followers
Created: 2025-07-16 17:19:18 UTC

$nicu.v $mgmnf .@MagnaMining 

While some fail to grasp how sustaining cap/develop cap will fallQ1 2026 dramatically, this. lowering ASIC to a normalized rate, Canaccord Genuity Capital Markets raised NICU XX month price target to $XXXX  on guidance. 

Magna team is delivering better results currently and much better then expected guidance in Q4 2025 that the analysts anticipated into steady state in 2026 

 “ What's new? NICU provided H2 2025 production and cost guidance for the McCreedy West Mine.
 
Highlights
Q3/25 guidance
·       Ore processed of 80kt - 92kt vs. CGe of 85kt

·       CuEq grade of XXXX% -XXXX% vs. CGe of XXXX%

·       CuEq production of 3.5mlbs-4.2mlbs vs. CGe of 3.33mlbs

·       C1 cash cost of USD$3.85/lb-$4.40/lb vs. CGe of USD$4.41/lb

·       AISC of USD$4.95 - $5.49/lb vs. CGe of USD$5.10/lb

Q4/25 guidance
·       Ore processed of 80kt - 92kt vs. CGe of 90kt

·       CuEq grade of XXXX% - XXXX% vs. CGe of XXXX%

·       CuEq production of 4.7mlb - 5.6mlb vs. CGe of 3.48mlbs

·       C1 cash cost of USD$3.11/lb - $3.66/lb vs. CGe of USD$4.48/lb

·       AISC of USD $3.85/lb-$4.47/lb vs. CGe of USD$5.15/lb

Our take: Positive. Overall, the guidance was better than our estimates - we note in particular the Q4 projected head grade, which drives much better production and costs than we had anticipated. While the expected AISC (as a proxy for development capital) is likely higher than the market was expecting, we believe this is money well-spent in terms of extending high-grade production through 2026 (and possibly beyond).
A significant portion of the capital development targets access to the western portion of the XXX ore body, where management believes the high-grade copper mineralizaiton continues. As outlined in our note here, management expects to have the longer-term plan much better defined by year-end and will provide an update early in 2026 along with detailed operating guidance for the year and potentially an updated resource for McCreedy West at that time (subject to exploration results in 2025). In the meantime, we also look forward to an updated resource on the Levack property later this quarter.
 
Valuation: We reiterate our SPEC BUY rating on NICU and increasing our target price to C$2.75/sh (previously C$2.50/sh). Our target price remains based on 0.5x NAV, measured as at July 1, 2026.”

So those who invest are very happy with the progress in creating a long life high-grade multi-mine cashflow machine spanning over decades.

![](https://pbs.twimg.com/media/Gv_smn4XoAEKMYf.jpg)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945533716425588963/c:line.svg)

**Related Topics**
[magna](/topic/magna)
[mergers and acquisitions](/topic/mergers-and-acquisitions)
[asic](/topic/asic)
[$mgmnf](/topic/$mgmnf)
[$nicuv](/topic/$nicuv)
[investment](/topic/investment)

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