Value Hive Podcast Jason Jessup (Pt. 2): Thinking Bigger Than FNX Mining
Jan 30, 2026
Jason Jessup, CEO of Magna Mining, is an operator-focused Sudbury mining executive steering exploration, production restarts and acquisitions. He lays out a bold plan to scale beyond FNX-era goals into a multi-billion dollar company. Topics include prioritizing McCready West, the R2 high-grade discovery, sequencing nickel versus copper, hiring A-players, financing strategy, and a clear 18-month roadmap for multiple producing mines.
AI Snips
Chapters
Transcript
Episode notes
Plan Contingencies When Restarting Mines
- When restarting a mine, plan contingencies and create multiple draw points to avoid production stoppages.
- Invest capital to optimize operations; changes take effort, communication, and follow-through.
The Day R2 Broke Open
- Jason got a call from Dave King showing core photos that hinted at a major discovery at R2.
- Assays later showed ~29% copper and very high precious metals, prompting an immediate drilling focus.
High-Grade R2 Changes Capital Mix
- R2 shows consistently high grades across multiple holes, with valuable precious metal content and no royalties on those metals.
- That combination creates strong cash-flow leverage and changes short-term capital allocation priorities.