Nicola Mining Inc. (NASDAQ: NICM) (TSX.V: NIM) (FSE: HLIA) and Ocean Partners UK Limited have each committed $5 million, totaling $10 million in financing, to Blue Lagoon Resources (CSE: BLLG). The funds are earmarked to support continued development and the production ramp-up of Blue Lagoon's 100%-owned Dome Mountain Gold and Silver Project near Smithers, British Columbia, targeting a production rate of 150 to 200 tonnes per day.
Nicola completed its investment through a private placement at $0.60 per share, acquiring 8,333,333 common shares. This follows Nicola's previous $1 million investment in Blue Lagoon completed in January 2024. Ocean Partners has now committed a total of $8 million to Blue Lagoon, underscoring its confidence in the project's potential.
The financing strengthens the relationship among mine development, concentrate marketing, and milling infrastructure. Nicola's wholly owned Merritt Mill is expected to play an increasingly important role as Blue Lagoon advances production. The mill, located near Merritt, British Columbia, is fully permitted and can process both gold and silver feed via gravity and flotation processes.
Nicola Mining is a junior mining company listed on the TSX Venture Exchange and the Frankfurt Exchange. It maintains a 100% owned mill and tailings facility and has signed Mining and Milling Profit Share Agreements with high-grade gold projects. The company also owns 100% of the New Craigmont Project, a high-grade copper property covering 10,913 hectares along the southern end of the Guichon Batholith, adjacent to Highland Valley Copper, Canada's largest copper mine. Additionally, Nicola owns 100% of the Treasure Mountain Property, which includes 30 mineral claims and a mineral lease spanning over 2,200 hectares.
This strategic investment aligns with Nicola's business model of leveraging its milling infrastructure to support gold projects while expanding its portfolio. The collaboration with Ocean Partners, a leading commodity trading and marketing company, enhances the value chain from mine to market.
For more details on the press release, visit https://ibn.fm/Wh0vf. The latest updates on Nicola Mining are available in the company's newsroom at https://ibn.fm/NICM.
