Nicola Mining

What Nicola Mining does

Nicola Mining Inc. is a Canadian public junior mining company (NASDAQ: NICM, TSX.V: NIM, FSE: HLIA) headquartered in Vancouver, British Columbia, with operations centered on the Merritt Mill & Tailings Facility, the only mill in BC permitted to process third-party gold and silver mill feed from across the province. The company's core business model combines toll milling/profit-share processing for junior miners (including Blue Lagoon Resources, Osisko Development, and Talisker Resources) with its own gold and silver concentrate production sold through a global offtake agreement with Ocean Partners UK Limited. The mill operates at 200 tpd with an expansion to approximately 500 tpd funded and underway. Nicola also operates aggregate production (sand, gravel, rock quarry, and a ready-mix concrete plant) through a partnership with Lower Nicola Site Services (LNSS), a First Nations-affiliated entity, supplying Teck Resources' Highland Valley Mine expansion and the BC Ministry of Transport.

The company's project portfolio includes the New Craigmont Copper Project (22 mineral claims and 10 mineral leases covering 10,800+ hectares in the Guichon Batholith, with exploration drilling targeting porphyry copper systems), the Treasure Mountain Silver Project (2,200+ hectares with 4,000m of underground development on care and maintenance), and a 75% economic interest in the Dominion Creek Gold Project (1,040 hectares, with bulk sample extraction and gold production commenced in 2025–2026). Processing technology includes a flotation-only circuit optimized for sulphide-hosted mineralization, gravity jig separation and tabling for free gold recovery, XRT sorting for copper grade upgrading from historic waste dumps, and pXRF/SWIR analytics for exploration vectoring.

The company generates revenue through toll milling fees, concentrate sales, aggregate sales, and ready-mix concrete, with pricing negotiated contract-by-contract and not publicly disclosed. Capital markets have been the primary funding mechanism, including $11M+ in equity raises across December 2025 through April 2026 (Ocean Partners strategic investment, upsized private placement, and a $6M NASDAQ public offering) to fund mill expansion, exploration, and the transition to integrated gold and silver production.

Name

Nicola Mining

Legal name

Nicola Mining Inc.

Website

https://nicolamining.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

Nicola Mining is a Canadian public junior mining company operating British Columbia's only mill permitted for third-party gold and silver toll processing, with integrated gold/silver concentrate production, copper and silver exploration projects, and aggregate operations via a First Nations partnership.

Ownership category

akta.pro rank

Product category

Diversified Mining and Mineral Processing

NAICS

Support Activities for Metal Mining (213114), Support Activities for Mining (2131), Copper, Nickel, Lead, and Zinc Mining (212230), Construction Sand and Gravel Mining (212321)

SIC

Metal Mining (1000), Construction, Mining & Materials Handling Machinery & Equip (3530), Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400)

akta.pro primary industry

Mine Operations Contracting (Open-Pit & Underground Development, Production, Load/Haul) (IMAKAKAD)

akta.pro secondary industries

Rock Excavation, Blasting & Quarry-Assist Works (IMAFAKAE), Tailings & Water Management Engineering (TSF Design/Construction, Dams, Water Treatment) (IMAKAOAF), Mine Construction & Development Contracting (Shaft Sinking, Tunneling, Pre-Strip, Civil Works) (IMAKAKAG)

Keywords

• Gold and silver milling
• Toll milling services
• Copper exploration
• Construction aggregates
• Mining operations

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Others

Revenue model

1. Gold and Silver Toll Milling: Processing third-party gold and silver mill feed from mining companies at the Merritt Mill. The company charges toll milling fees and shares profits through Milling and Profit Share Agreements with partners including Blue Lagoon Resources and Osisko Development. Concentrate is sold to Ocean Partners UK Limited.
2. Aggregate Sales (Sand, Gravel, Rock): Sale of construction aggregates from the gravel pit and rock quarry under tolling agreement with LNSS. Permitted for approximately 100,000 tonnes annually. Supplying Ministry of Transport for highway infrastructure and Teck's Highland Valley Mine expansion.
3. Ready-Mix Concrete Production: Production and sale of ready-mix concrete from the fully completed cement plant at Merritt Mill Property, operated in partnership with LNSS.
4. Capital Markets and Financing: Non-brokered private placements, public offerings, and warrant exercises to fund operations, mill expansion, and exploration. Completed $6 million public offering in April 2026 and $3 million upsized placement in January 2026.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Nicola Mining operates the Merritt Mill & Tailings Facility near Merritt, BC, providing custom toll milling services for third-party gold and silver ore at 200 tpd capacity (expanding to 500 tpd), and produces gold and silver concentrate sold to Ocean Partners UK Limited. The company also operates aggregate operations (sand, gravel, rock quarry, ready-mix concrete plant) through its partnership with Lower Nicola Site Services Ltd., and holds three mineral exploration/development projects: New Craigmont Copper Project, Treasure Mountain Silver Project, and Dominion Creek Gold Project.

Product overview

Nicola Mining is a diversified Canadian mining company operating a portfolio of producing assets and advanced exploration projects in British Columbia. The company's core operations center on the Merritt Mill & Tailings Facility (500 tpd gold-silver processing capacity), complemented by three principal mineral projects: New Craigmont Copper Project (copper exploration with porphyry targets), Treasure Mountain Silver Project (silver-lead-zinc on care and maintenance), and Dominion Creek Gold Project (high-grade gold-silver bulk sample production). The company generates immediate cashflow through custom toll milling services for third-party miners while advancing exploration projects. Additional revenue streams include aggregate operations (sand, gravel, rock quarry, ready-mix concrete) operated in partnership with Lower Nicola Site Services. Nicola produces gold and silver concentrate sold through Ocean Partners UK Limited, making it a hybrid producer-explorator in BC's mining sector.

Differentiator

Problem solved

Functional benefit

Products and services

• Merritt Mill & Tailings Facility Fully permitted gold and silver milling facility near Merritt, BC capable of processing 200 tpd (expanding to 500 tpd) through crushing, grinding, and flotation. Processes custom millfeed from third parties and produces gold flotation concentrate, silver concentrate, and free gold concentrate.
• Custom Toll Milling Services

Quantifiable outcome

• Copper concentrate production capacity expansion to 500 tpd
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered supporting, key and core.

• ICP Securities Inc.supportingStrategic or Co-development Partner · 27 April 2026Engaged for automated market making services to support liquidity and trading activity for NICM shares on NASDAQ Capital Market.
• Global One Media Group Pte. Ltd.supportingGTM or Marketing Partner · 14 April 2026Singapore-based investor marketing and media firm engaged to support Nicola's digital investor communications strategy. Produces video interviews and corporate communications distributed through international channels across North America, Europe, and Asia to increase visibility among global investors.
• Rahim Kassim-Lakha (Blue Sail Capital)supportingStrategic or Co-development Partner · 29 December 2025Appointed as strategic advisor to guide on capital markets strategy and corporate development, supporting the planned NASDAQ uplisting.
• Osisko Development CorporationkeyStrategic or Co-development Partner · 9 January 2023Mining and Milling Profit Share Agreement for toll milling services at Merritt Mill. Enables Osisko to process ore through Nicola's permitted facilities.
• University of British Columbia (UBC) MDRUkeyStrategic or Co-development Partner · 29 June 2022UBC's Mineral Deposit Research Unit collaboration to explore for porphyry copper targets at New Craigmont. MDRU represents a collaborative initiative between UBC, Lakehead University, Universities of Alberta and Calgary, plus 15 partner organizations. Master's thesis by Warren Wegener concluded Craigmont is part of a porphyry-linked skarn system.
• Lower Nicola Site Services Ltd. (LNSS)coreChannel Partner/ Reseller/ Distributor · 14 March 2022LNSS is a partnership between Infracon Construction and Lower Nicola Indian Band Development Corporation. They operate the Nicola Quarry gravel pit (100,000 tonnes/year), rock quarry (1,500 tonnes/day), and Ready-Mix Concrete plant. The partnership supplies aggregates for Teck's Highland Valley Mine expansion and BC Ministry of Transport infrastructure repairs.
• High Range Exploration Ltd.coreStrategic or Co-development Partner · 15 June 2021Joint venture partner for Dominion Creek Gold Project. Nicola holds 50% land ownership and 50% Mining and Milling Profit Share Agreement, resulting in 75% economic interest. Partnership includes bulk sample permit application and ongoing exploration activities.
• Blue Lagoon Resources Inc.coreStrategic or Co-development PartnerBlue Lagoon Resources provides high-grade gold and silver millfeed from the Dome Mountain Gold Project for exclusive processing at Nicola's Merritt Mill. Nicola extended a $2 million line of credit and transitioned to flotation-only processing optimized for sulphide-hosted mineralization.

Scale indicators14 records

Recent moves12 records

Expansion highlights7 records

Direct peers

• Osisko Development Corp. BC-focused precious metals developer with a Mining and Milling Profit Share Agreement with Nicola at the Merritt Mill. Same British Columbia jurisdiction, similar size and stage profile, and direct customer/partner relationship makes it the most directly comparable peer.
• Skeena Resources: Junior gold developer in British Columbia's Golden Triangle. Comparable in market cap tier, BC jurisdiction, single-asset focus, and reliance on third-party processing infrastructure or build-out decisions relevant to Nicola's toll milling thesis.
• Artemis Gold Inc. BC-based gold developer advancing the Blackwater Mine. Comparable in BC jurisdiction, gold focus, and the scale of mill infrastructure required, putting Artemis in the same competitive set for BC milling capacity and junior miner investor capital.
• Talisker Resources Ltd. Junior BC gold miner with an ore purchase agreement for processing at Nicola's Merritt Mill and ongoing relationship with Ocean Partners for accelerated offtake. Directly comparable given BC focus, junior scale, and dependence on Nicola's toll milling services.
• Ascot Resources Ltd. BC-focused gold producer advancing the Premier Gold Project near Stewart. Comparable BC jurisdiction, similar mid-cap profile, and similar build-out of milling/processing infrastructure, making it a relevant comp for Nicola's mill economics.
• Blue Lagoon Resources Inc. Junior BC gold/silver miner providing millfeed to Nicola's Merritt Mill under an exclusive arrangement plus a $2M line of credit. Direct customer and partner; similar size and stage; useful comp for the junior miner side of Nicola's toll milling book.
• SilverCrest Metals Inc. Mid-tier precious metals producer with operations in Mexico and BC. Comparable in silver/gold concentrate production model and concentrate offtake structure, making SilverCrest a useful comp for Nicola's Merritt Mill concentrate economics.
• Endeavour Silver Corp. Mid-tier silver-gold producer with multiple operating mines. Comparable in silver/gold concentrate focus, offtake economics, and the path from junior explorer to mid-tier producer that Nicola is pursuing through Dominion Creek and Treasure Mountain.

Broad incumbents

• Equinox Gold Corp. Mid-tier gold producer with multiple operating mines across the Americas. Broader incumbent comp relevant for understanding where Nicola sits on the producer spectrum and what scale-up path looks like as Merritt Mill expands and Dominion Creek moves into production.
• Teck Resources Limited: Major diversified miner headquartered in Vancouver and operator of the Highland Valley Mine, which is a direct customer of Nicola's aggregate operations. Useful comp for understanding BC mining economics, regulatory dynamics, and infrastructure counterparty relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NicolaMining
• YouTubeyoutube.com/channel/UCNzC1PCatdMiPT4mMTK62tw
• Facebookfacebook.com/nicolamining
• LinkedInlinkedin.com/company/nicola-mining-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries2 records

Funding overview

Funding rounds18 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nicola Mining