Welcome to The Ellis Martin Report and Money Talk Radio, where host Ellis Martin speaks with Peter Espig, CEO of Nicola Mining (TSX-V: NIM | OTCQB: HUSIF). Nicola is a unique mining company in British Columbia combining cash-flowing operations, fully permitted assets, and blue-sky exploration upside.

Unlike most juniors that survive only by raising capital, Nicola operates with strong cash flow from its fully permitted Merritt Mill, which accepts and processes gold and silver feed from across BC. This steady revenue base reduces dilution while funding growth across gold, silver, and copper assets.

Key Highlights:

• Merritt Mill Advantage: Nicola is the only mill in British Columbia permitted to accept mill feed from anywhere in the province. Running near full capacity at 200 tons/day, the mill generates operating margins of 15–18%. Expansion plans are underway to double capacity.
• Near-Term Revenue: With partnerships including Talisker’s Bralorne Project, Blue Lagoon’s Dome Mountain, and Dominion Creek (Nicola’s own high-grade gold asset), the mill is projected to deliver $25M–$50M in revenue by late 2025, scaling to $100M+ in 2026.
• Silver Asset Reawakening: Nicola’s Treasure Mountain Silver Mine, once placed on care and maintenance, is poised for revival as silver prices remain strong. At $25–$40+ USD/oz, the economics are highly attractive. Investors can expect renewed drilling and exploration in 2026.
• Copper Upside at Craigmont: Nicola owns the highest-grade copper mine in North American history, already fully permitted. Exploration drilling is targeting a porphyry system. Unlike most projects that require 12–15 years of permitting, Nicola’s copper asset is production-ready.
• Stability in a Volatile Sector: CEO Peter Espig emphasizes Nicola’s focus on profitability even at low metal prices. Backed by over $17M of management’s own capital, the company has built a stable platform in an industry where only 1.8% of juniors ever generate revenue.
• Strategic Growth Path: By focusing exclusively on British Columbia, Nicola leverages synergies with its mill, permits, First Nations partnerships, and the Ministry of Mines. The company targets acquisitions that can enter cash flow within 24 months, avoiding stranded exploration plays.
• Revenue Potential: With current throughput, Nicola is on track for $100M+ in annual revenues by 2026. If its capacity amendment is approved, that figure could approach $250M CAD, transforming the company toward mid-tier status.
• Long-Term Outlook: By 2026, Nicola envisions a balanced portfolio: cash flow from the Merritt Mill and Dominion Creek, copper expansion at Craigmont, and renewed silver production at Treasure Mountain. This diversification positions Nicola to capture value across multiple commodities while maintaining shareholder discipline.

Why Nicola Mining Matters: Most “mining” companies are explorers without revenue. Nicola Mining stands out as a cash-flowing, fully permitted, and diversified operator in one of the world’s safest jurisdictions. With exposure to gold, silver, and copper, plus the only province-wide permitted mill in BC, Nicola offers both stability and upside.

About Nicola Mining (TSX-V: NIM | OTCQB: HUSIF)

• Cash flow from processing agreements at the Merritt Mill.
• Exploration upside in gold, silver, and copper projects.
• Fully permitted assets (mill, silver mine, copper mine, bulk samples).
• Focused exclusively on British Columbia for synergy and execution.
• Positioned to evolve from junior to mid-tier through revenue growth and acquisitions.