Interview with Jason Jessup, CEO of Magna Mining Corp.

Magna Mining Corporation is a private nickel company incorporated in Ontario, Canada in 2016. Their primary purpose is on the acquisition, exploration and development of nickel-copper deposits in the Sudbury Basin of Ontario, Canada. Magna made its first acquisition, Ursa Major Minerals in 2017; Magna became owners of the "rather advanced" and "world-class" Shakespeare Mine, Ontario, an open-pit nickel project that was in commercial production as recently as 2010/11 via toll milling, with approximately 490,000t of nickel ore tolled. The mine also possesses all the major permits, and Magna Mining sees it as central to their play. The mine was acquired by a contrarian strategy when nickel was around $4/lb and nickel projects were about as appealing as diving into the mine itself head first.

Jason is originally from Sudbury, and has vast experience as an operations manager at mines for large corporate and junior companies; this latest project is familiar territory. The president of Magna Mining is Vern Baker, an MBA holder from Stanford University with decades of mining experience, though shareholders might be concerned his priorities lie elsewhere as full-time CEO of Jaguar Mining. The remainder of Magna's team is comprised of experienced, highly-knowledgeable individuals. The team looks exciting, but there will be question marks around whether Magna is the priority, given many of them have heavy involvement with other corporate entities.

Magna has big aspirations of becoming a 50-year, +$100M company, but they have a long way to go before they can get off the ground. Magna Mining needs to raise money, locate acquisitions, make acquisitions and then go public. These are big steps that have to be implemented before they can proceed forward to even the earliest mining of nickel. For some Magna might be an intriguing long-term proposition, especially if they buy into the almost unanimously supported EV narrative, but for many investors, it might seem Magna has bitten off a little more than they can chew. Perhaps Magna might be ready to go by the time the EV revolution finally kicks off.

Magna Mining implements a roll-up strategy via opportunistic growth, where key assets are identified based on promise and past performance and then acquired. Magna is in ongoing discussions regarding non-core assets in Sudbury, but is the stage of this project all a little early for investors to consider getting involved?

Some might argue it's a great opportunity for investors to get involved at an extremely early stage while stock is cheap and potential is yet to be extracted. The team at Magna has an excellent track record in nickel, and are certified experts in the field of mining metals. Nickel itself is a commodity with great potential, so perhaps Magna is a company to explore. The Shakespeare Mine's Capex of $150M is particularly unique and the surrounding area of Sudbury is as good as it gets for facilitating mining.

What did you make of Jason Jessup? Does Magna have the potential you require as a potential shareholder, or is it more of a pipe dream?

Company page: http://magnamining.com/

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