Magna Mining Inc (OTCPK:MGMNF)

Q1 2026 Magna Mining Inc Earnings Call Transcript

May 28, 2026 / 12:00 PM GMT

Release Date Price: $1.67 (-3.36%)

Transcript

Key Points

Positve

Magna Mining Inc (MGMNF) reported zero reportable injuries in Q1, showcasing strong leadership and a committed workforce.
The McCready West mine generated $25.9 million in revenue, with cash margins improving to $6 million in the quarter.
The company achieved a quarterly record in underground development, totaling 2,252 feet.
Magna Mining Inc (MGMNF) received conditional approval to list its shares on the Toronto Stock Exchange, which could enhance visibility and investor access.
The company is well-funded with a working capital of almost $55 million as of the end of Q1, supporting its growth initiatives.

Negative

The company experienced an operating cash outflow of $15.2 million and a free cash outflow of $19.5 million in Q1.
Grades during the first quarter were at the lower end of the full-year guidance range, although higher commodity prices mitigated the impact.
There was a decline in working capital by $6.8 million from December 31, 2025.
The company is still in the planning phase for the potential restart of mining at the nickel-rich intermain contact type deposit, indicating uncertainty in execution timelines.
The preliminary feasibility study for Crane Hill and the PEA for Lavak are still pending completion, with anticipated results in Q3 2026, which may delay decision-making.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NICU.V - Magna Mining Inc
Q1 2026 Magna Mining Inc Earnings Call
May 28, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by.

Welcome to the Magna Mining Inc. First quarter conference call and webcast. At this time, all participants are on the listen-only mode. After the speaker's presentation, there will be a question-and-answer session.

To ask a question during the session, you will need to press *11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press *11 again. To ask a question via the Web, please type your question in the Ask the Question box and click Submit. Please be advised that today's conference is being recorded. I would now like to turn the call first over to Greg Huffman, Senior Vice President, Capital Markets. Please

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