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Microcap & Penny Stocks : Pennies Arent Dead

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From: getlouied9/14/2023 11:56:30 AM
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Canadian Mining Stock Nicola Mining Inc. (TSX.V:NIM) (OTCQB:HUSIF) Sees Explosive Trading Volume Surge Here’s Why

https://thestreetreports.com/canadian-mining-stock-nicola-mining-inc-tsx-vnim-otcqbhusif-sees-explosive-trading-volume-surge-heres-why/


Investors are often known to follow stocks that record strong trading volumes, and by that token, it may be a good move to take a closer look at the Nicola Mining Inc. (TSX.V:NIM) (OTCQB:HUSIF) stock. On Wednesday, the stock emerged as one of the more active ones in Canada and clocked trading volumes of 9.5 million shares.


Nicola Mining is a junior mining company that is listed on the TSX Venture Exchange and the Frankfurt Exchange. It owns a mill and tailings facility in its entirety in Merritt, British Columbia. Additionally, the company has also inked mining and milling profit share agreements with some high-grade gold projects. The mill is fully permitted and can process gold as well as silver through floatation and gravity processes.

Additionally, Nicola is also the 100% owner of the high-grade copper property named New Craigmont Project, which encompasses an area of as much as 10084 hectares. Another property owned in its entirety by Nicola Mining is the Treasure Mountain Property, which spans 2178 hectares and covers 29 mineral tenures. The company was in the news on September 6 when it announced that it had inked a non-binding letter of intent with the Japan-based arm’s-length company Nittestu Mining Co., Ltd.

As per the agreement, the company would enter into a joint venture with Nittestu pertaining to its New Craigmon Project. In exchange, Nittestu would be responsible for meeting some of the exploration and other considerations, which could reach $25 million once the joint venture is concluded.

If further negotiations and due diligence formalities are successful, then the two entities would reach a definitive agreement with regard to the joint venture by December 23, 2023, at the latest. The contribution of $25 million by Nittestu would give it a valuation of $62.5 million, given that it would have a 40% stake in the same.
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