Northwire Canada EditionFriday, July 17, 2026
Sign inSubscribe
Northwire
⌕
LUN 33.59 −2.5% NTR 94.27 −1.8% LALI 0.055 −8.3% SCD 0.170 +0.0% HWY 0.370 +0.0% FCI 0.385 +1.3% GGAU 0.180 −5.3% KIRO 0.650 +1.6% LBNK 0.430 +0.0% BARU 0.040 +0.0% VCU 1.09 −4.4% NOBL 0.095 −5.0% SHL 0.355 +0.0% MTS 0.130 +0.0% FYL 0.090 +0.0% NUAG 5.55 +1.8% LUN 33.59 −2.5% NTR 94.27 −1.8% LALI 0.055 −8.3% SCD 0.170 +0.0% HWY 0.370 +0.0% FCI 0.385 +1.3% GGAU 0.180 −5.3% KIRO 0.650 +1.6% LBNK 0.430 +0.0% BARU 0.040 +0.0% VCU 1.09 −4.4% NOBL 0.095 −5.0% SHL 0.355 +0.0% MTS 0.130 +0.0% FYL 0.090 +0.0% NUAG 5.55 +1.8%
Financings Material +

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.

Jun 26, 2026 · 09:01

Nicola confirms a porphyry target at Jotun despite cash burn and going concern risks dominating its near-term outlook.

Drill Results Jun 01, 2026 · 09:01

Nicola Mining Advances Dominion Gold Project Production Amidst Broader Milling Expansion and NASDAQ Listing

Production / Operations Apr 28, 2026 · 09:01

Nicola Mining Commences Drilling at New Craigmont as Milling Revenue Funds Exploration

Drill Results Apr 17, 2026 · 16:58

Financing Completes, Dilution Weighs on Share Price Despite Operational Milestones

Financings Apr 14, 2026 · 18:21

Nicola Mining Closes NASDAQ Offering Amidst Production Ramp-Up and Capital Raise

Financings Apr 13, 2026 · 07:01

Nicola Mining Secures US Capital Access But Dilution Looms as Mill Expansion Funding Confirmed

Financings