Nicola Mining (TSXV: NIM) has announced it will begin full-scale gold milling operations in Q3 2025 at its upgraded facility near Merritt, British Columbia, currently in pre-production adjustments.
The $33 million facility, the only one in BC licensed to process third-party gold and silver ore, has started receiving ore from Talisker Resources (TSX: TSK) under a milling agreement first signed in July 2024.
Recent upgrades made in the second half of 2024 aim to boost efficiency, and Nicola is now applying to amend its permit to increase throughput capacity.
Nicola and Talisker have also partnered with Ocean Partners UK for the sale of gold and silver concentrate, creating a streamlined supply chain for precious metals.
The company plans to scale operations over the coming months, with full capacity expected to be achieved by the third quarter of 2025.
In parallel, Nicola is preparing to launch copper exploration at its New Craigmont project, a 108 sq. km high-grade property near Highland Valley, Canada’s largest copper mine.
Nicola also owns the Treasure Mountain property, consisting of 30 mineral claims and a lease covering over 22 sq. km.
The expansion into both gold processing and copper exploration reflects Nicola’s broader strategy to become a multi-metal player in BC’s Interior Plateau.
Despite the positive developments, Nicola’s stock slipped 1.4% on Wednesday morning in Toronto, leaving it with a market cap of C$61.8 million ($44.7 million).
The ramp-up is expected to support the province’s mining sector and enhance revenue opportunities through third-party ore processing and new resource development.