Northwire Canada EditionWednesday, November 11, 2026
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Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1% Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1%
Financings

Blue Lagoon receives $1.4-million from Nicola Mining

Nicola Mining Transitions to Cash-Flow Merchant Miller as Merritt Mill Validates Revenue Model

By The Northwire Desk — AI Analysis Feb 20, 2026 · 10:23 NIM · 1.23 Nicola Mining Inc.
Executive Summary

The most recent news (February 20, 2026) confirms that Nicola Mining has received a second advance payment of approximately $1.4 million from Blue Lagoon Resources (BLAG) for the processing of 1,000 tonnes of mineralized material at Nicola's 100%-owned Merritt Mill. To date, 3,700 tonnes of material have been delivered from the Dome Mountain project. This follows the January 2026 announcement of the first $1.0 million USD sale of gold and silver concentrate to Ocean Partners UK. The mill has transitioned from "pre-production adjustments" in mid-2025 to active processing and consistent cash flow generation in early 2026.

Material Impact

This news is Material - Positive for three reasons: - Revenue Validation: It proves the Merritt Mill’s capability to function as a "merchant mill," generating immediate cash flow from third-party ore (Blue Lagoon and Talisker) without Nicola bearing the direct mining risk of those specific projects. - Capital for Expansion: The receipt of processing payments, combined with the recently closed $4.96 million financing (January 2026), provides the liquidity needed to execute the planned mill expansion from 200 tonnes per day (tpd) to 500 tpd. - Strategic Synergy: The commencement of milling validates the long-term partnership with Blue Lagoon, where Nicola also holds an equity stake (marketable securities valued at $3.57M as of Sept 2025), creating a dual-benefit scenario of processing revenue and portfolio appreciation.

NIM · Price
Company Overview

Nicola Mining is a junior mining company with a unique "hub and spoke" model in British Columbia. - Flagship Facility: The Merritt Mill, the only facility in B.C. permitted to accept third-party gold and silver mill feed from across the province. - Flagship Exploration: New Craigmont Copper Project, which hosts the historic high-grade Craigmont Mine. Exploration is currently targeting a larger porphyry system surrounding the historic skarn mineralization. - Secondary Assets: Treasure Mountain (permitted silver mine on care and maintenance) and Dominion Creek (75% interest gold project).

Read the original news release →

More from Nicola Mining Inc.

Nov 02, 2026 · 09:01

Nicola’s Dominion project has delayed its 10,000t bulk-sample goal to 2027, having only shipped 1,300t so far.

Production / Operations Oct 23, 2026 · 09:01

Nicola’s Merritt project slipped to fourth quarter with no disclosed tonnes, grades, or cash figures.

Production / Operations Oct 08, 2026 · 09:01

Nicola advances early-stage drilling while relying on third-party mill feed for survival.

Drill Results Sep 18, 2026 · 09:01

Nicola’s early-stage TM drilling confirms plan execution, with assay results serving as the primary catalyst for future project evaluation.

Drill Results Sep 09, 2026 · 09:01

Nicola reopens portals at its idle silver mine, though a 2027 restart remains uncertain due to unresolved capital expenditure and reserve requirements.

Production / Operations Aug 31, 2026 · 09:01

Nicola’s early-stage Red Eye feed assays validate the milling hub strategy with negligible near-term cash flow impact.

Production / Operations