Nicola, Blue Lagoon sell $1M (U.S.) of Au, Ag to Ocean
Nicola Validates Hub-and-Spoke Model with First US$1 Million Precious Metals Payment
The most recent news (January 5, 2026) confirms that Nicola Mining and its partner, Blue Lagoon Resources (BLLG), have received their first payment of US$1.0 million for gold and silver concentrate sold to Ocean Partners UK Limited. This payment follows the commencement of ore hauling on December 1, 2025. The release confirms that the Merritt Mill is now operational and successfully converting third-party mill feed into liquid cash. CEO Peter Espig characterized this as a mutual "ramp-up" of production and revenues.
This news is materially positive as it marks the transition from a capital-consuming explorer/developer to a revenue-generating producer. - Revenue Validation: The US$1.0M payment is tangible proof that the partnership with Blue Lagoon is functional. - Mill Utilization: Throughout 2025, Nicola signaled its intent to become a "milling hub." This payment validates that strategy and suggests the Merritt Mill (a $33M+ asset) is finally being optimized. - Counterparty De-risking: The involvement of Ocean Partners UK—not just as a buyer but as a strategic investor (per the Dec 29, 2025 news)—solidifies the supply chain from mine to market. - Financial Momentum: Combined with the reduction of the current portion of convertible debentures from $4.48M to $0 during 2025, the company enters 2026 with a significantly cleaner balance sheet and an active cash flow stream.
Nicola Mining is a junior mining company that operates a unique "hub and spoke" model in British Columbia. - Flagship Asset: The Merritt Mill (Craigmont Mill), the only facility in B.C. permitted to accept third-party gold and silver mill feed from across the province. - New Craigmont Copper Project: A 10,800-hectare property adjacent to Highland Valley Copper. It is a past-producing high-grade copper site currently under exploration for porphyry systems. - Treasure Mountain: A 100%-owned, fully permitted silver mine currently in care and maintenance, waiting for favorable silver prices to restart. - Dominion Creek: A high-grade gold project (75% interest) currently undergoing bulk sampling.