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Canada Nickel Co Inc (CNIKF) is a leading nickel-sulphide project developer focused on delivering nickel to serve the growing electric vehicle and stainless steel markets. With projects like the Crawford Nickel Sulphide Project, Canada Nickel is advancing the next generation of nickel production, aiming to produce net zero carbon nickel, cobalt, and iron products. The company's exploration programs have yielded promising results across various properties, showcasing its commitment to sustainability and innovation in the mining industry.
Canada Nickel Company Inc. (TSX-V:CNC) (OTCQB: CNIKF) has announced the appointment of Julian Ovens to its Board of Directors, effective October 21, 2024. Mr. Ovens brings extensive senior management experience from Rio Tinto and BHP, as well as senior roles in the Canadian government and successful government relations and public affairs advisory.
Simultaneously, Mike Cox has retired as a director but will continue to support the company by leading Canada Nickel's wholly owned downstream subsidiary, NetZero Metals Inc. The company's Chair, David Smith, expressed confidence that Mr. Ovens' expertise will be invaluable as they advance the Crawford Nickel Sulphide Project towards a construction decision in 2025.
Mr. Ovens' background includes roles as Partner at Crestview Strategy, Director of the Canadian Commercial , and Chief of Staff to multiple Canadian Ministers of International Trade and Foreign Affairs. He also has extensive experience in the natural resources sector, having worked in strategy and development roles at BHP and in corporate Mergers & Acquisitions at Rio Tinto Alcan.
Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) has been conditionally approved for a C$4.38 million contribution from Natural Resources Canada's Critical Minerals Infrastructure Fund (CMIF). The funding supports pre-construction and project development activities for the Crawford Nickel Sulphide Project, focusing on electrical infrastructure. These studies, scheduled for completion by June 2025, are important for developing clean energy infrastructure in the mining sector.
The project aims to reduce greenhouse gas emissions by over 60% compared to diesel-powered operations by utilizing Ontario's clean electricity grid. It also includes a permanent carbon storage component, potentially making it a net-zero contributor of CO2 over its lifetime. Once operational, the mine is expected to create about 1,500 jobs and drive economic growth in the Timmins region.
Canada Nickel Company Inc. (TSXV: CNC) (OTCQX: CNIKF) has initiated the submission of the federal Impact Statement for its Crawford Nickel Sulphide Project. The submission, expected to be completed within six weeks, includes critical baseline data and analysis of environmental, social, and economic effects of the project. It reflects the company's commitment to responsible mining and outlines mitigation measures for potential negative impacts.
The Impact Statement is the result of extensive consultations with Indigenous Nations, local communities, government agencies, and key stakeholders. CEO Mark Selby highlighted this as a major milestone, bringing the company closer to securing permits targeted for 2025. The project aims to drive regional economic growth and produce critical minerals to meet rising global demand, positioning Canada Nickel as a key player in the transition to a low-carbon economy.
Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) has announced significant developments for its subsidiary, NetZero Metals Inc. The company has formed an Advisory Board of global metallurgical leaders to support the advancement of its nickel, stainless-steel, and alloy processing facilities planned for the Timmins District. The Advisory Board includes Dr. Ulrich Albrecht Frueh, Boyd Davis, Christian Hempel, and Tony Warner, bringing extensive experience in the nickel, stainless, and alloy steel sectors.
Additionally, Canada Nickel has appointed Scott Lauschke as Vice-President Business Development for NetZero Metals. Lauschke, a metallurgical engineer with 27 years of experience in stainless and alloy steels, will play a important role in progressing the company's downstream processing projects through the Feasibility Study stage and into production.
Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) has received a support letter from a leading financial institution expressing interest in providing up to C$500 million (US$370 million) in long-term debt financing for the Crawford Nickel Sulphide Project in Timmins, Ontario. This is in addition to the US$500 million letter of interest from Export Development Canada announced last week. Combined, these letters amount to approximately US$870 million of potential senior debt.
The company also expects to qualify for refundable critical minerals and carbon capture and storage tax credits exceeding US$600 million for Crawford's initial development phase. With these financial developments, Canada Nickel is well-positioned to secure the remaining project funding needed to begin construction when permits are received, expected by mid-2025.
Canada Nickel announced positive exploration results from 48 drilling holes across seven regional properties in the Timmins Nickel District, including Reid, Mann (North, West, Central, South), Reaume, and Texmont. Key highlights include
- Reid: 710 meters of 0.25% nickel, 105 meters of 0.35% nickel
- Mann Central: 223 meters of 0.29% nickel, 10 meters of 0.51% nickel
- Mann West: delineated mineralization over 1.7 km strike length
- Texmont: 6.5 meters of 2.68% nickel
- Reaume: visible coarse-grained awaruite
Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) has received a Letter of Interest (LOI) from Export Development Canada (EDC) for up to US$500 million in long-term debt financing for the Crawford Nickel Sulphide Project in Timmins, Ontario. EDC could consider a debt tenor of up to eighteen years, subject to conditions and due diligence. This milestone, combined with expected refundable tax credits exceeding US$600 million, demonstrates significant federal government support for the project. Canada Nickel is working with financial advisors to secure remaining funding, aiming to begin construction by mid-2025, pending permit approvals.
Canada Nickel Company Inc. (TSXV: CNC) (OTCQB: CNIKF) has filed a technical report for its Deloro Nickel Sulphide Project near Timmins, Ontario. The report, prepared in accordance with NI 43-101, supports the initial mineral resource estimate announced on July 18, 2024. Deloro is the first of seven additional resources expected to be published by mid-2025. The project benefits from its proximity to Timmins and existing infrastructure, as well as a low average overburden of 6 meters. CEO Mark Selby expressed excitement about the company's regional exploration program success, with a comprehensive update expected next week.
Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) announced positive assay results from its 2024 exploration program at the Reid property near Timmins, Ontario. The best interval to date was 661 metres of 0.29% nickel, including 100 metres of 0.42% nickel and 40 metres of 0.51% nickel in hole REI-24-35. All 8 holes targeting the Reid Central Core intersected core lengths greater than 620 metres with average grades of 0.21% to 0.29% nickel. The company expects to complete the first phase of drilling in August and produce an initial resource estimate for Reid in Q4 2024. CEO Mark Selby highlighted the potential scale of the Timmins Nickel District, with seven drill rigs currently operating on five separate targets.
Canada Nickel Company (TSXV: CNC) (OTCQX: CNIKF) announced results from its Crawford PGM Zone infill drilling campaign. The program targeted PGM Zones at Crawford with 45 holes intersecting drill intervals of >1g/t palladium + platinum. Highlights include:
- 2.19 g/t palladium + platinum over 76.5 metres in Crawford Main Zone
- 1.15 g/t palladium + platinum over 38.5 metres in Crawford East Zone
The PGM results will be included in developing a Crawford PGM Zone resource estimate and incorporated into the Crawford nickel mine plan. CEO Mark Selby noted the potential to unlock incremental value from material previously treated as waste within the Crawford feasibility study.
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