Nicola Mining Inc. (OTC:HUSIF) Stock In Focus After Major Development

This past Friday, a number of mining companies came into focus among investors, and one of those was Nicola Mining Inc. (OTC:HUSIF). In light of the announcement made by the company on April 5, it could be a good idea for investors to take a closer look. The company announced that, along with its partner Lower Nicola Site Services Ltd, it had started the construction of a cement plant. Lower Nicola Site Services had been established as a partnership between Infracon Construction Inc. and Lower Nicola Indian Band Development Corporation.

On March 14, 2022, Nicola Mining announced that it had entered into a rock and gravel extraction and preferred engagement agreement with Lower Nicola Site Services. Later on, on March 22, 2022, the company was awarded a Notice of Departure from the Ministry of Energy, Mines, and Low Carbon Innovation to operate a rock quarry at the New Craigmont Project. As per the provisions of the Notice of Departure, Nicola Mining had been awarded permission to extract a maximum of 3 million tons of inert rock. The rock material could be used by the company for infrastructure reconstruction efforts, with a production rate of around 1500 tons a day.

In the news release, it was announced that the cement plant would be situated on a gravel pit owned by Nicola Mining and operated by Lower Nicola Site Services. The gravel pit is located adjacent to the Craigmont Mine Site and not too far away from Merritt in British Columbia. In this regard, it should be noted that the two organizations have already been working on the supply of sand, riprap, and gravel for infrastructure projects in the region. Hence, the latest effort at vertical integration was seen as a natural step. It may be a good move to keep an eye on the Nicola Mining stock today.

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