
Tuesday, June 03, 2025
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
First quarter 2025 financial results. Nicola Mining (TSX.V: NIM, OTCQB: HUSIF) reported a first quarter 2025 loss of C$475,808 or C$(0.00) per share compared to a loss of C$1,028,129 or $(0.01) per share during the prior year period. We had projected a loss of C$1,044,879 or C$(0.01) per share. The variance to our estimates was largely due to a gain on marketable securities. We increased our 2025 net income and EPS estimates to C$8,803,755 and C$0.05 per share, respectively, from C$7,724,367 and C$0.04. We updated our commodity grade assumptions, along with higher metals price estimates based on actual April and May pricing and CME futures settlements for the remainder of the year.
Mill operations to commence shortly. We expect Nicola Mining to commence milling operations on or around June 15. On May 11, Talisker Resources Ltd. (TSX: TSK, OTCQX: TSKFF) began trucking run of mine material from its Mustang Mine to Nicola’s Craigmont Mill in British Columbia. Approximately 2,000 tonnes of ore had been delivered as of June 1, and we expect a stockpile of 2,500 to 3,000 tonnes prior to the mill commencing operations.
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