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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 held its annual and special meeting on April 20, 2022, where all director nominees were elected, and MNP LLP was appointed as auditors. The company also announced the acquisition of properties in the Timmins nickel-sulphide district, agreeing to issue 50,000 common shares subject to TSX Venture Exchange approval. Additionally, Canada Nickel will issue 44,103 common shares at $2.60 each, totaling $115,448, to a service provider for obligations due. This strategic move aims to strengthen its nickel-sulphide projects catering to the electric vehicle market.
Canada Nickel Company (CNIKF) announced exciting assay results from its Crawford Nickel Sulphide Project, achieving the highest grade interval to date with 64.5 metres of 0.71% nickel. The East Zone mineralization increased by 33% to 2.8 kilometres, with drilling extending to 1 kilometre depth. The PGM Zone also demonstrated potential with grades up to 1.4 g/t. Additionally, the company issued 1,040,000 stock options and 925,362 restricted share units, enhancing its incentive plans. Over 200 drill holes have been completed to support a resource increase expected mid-year.
Canada Nickel Company has reported significant advancements in the Crawford Nickel Sulphide Project, confirming a nickel recovery rate of 63% from a low-grade feed. This recovery is accompanied by an impressive nickel sulphide concentrate grade of 46%, the highest noted in a locked cycle test so far. Each percent improvement in nickel recovery corresponds to a potential US$92 million increase in project value. Additionally, the company has expanded its land holdings in the Timmins district and is nearing completion of a strategic investor process.
Canada Nickel Company (TSXV: CNC) announced promising drill assay results from its recent exploration activities at Mahaffy, Dargavel, Kingsmill, and MacDiarmid properties. Notably, the Dargavel hole DAR21-01 presented an impressive 162 metres of 0.30% nickel, including a higher grade of 0.34% nickel over 28.5 metres. The company's Crawford feasibility study is expected to be finalized by Q4 2022, with the permitting process commencing in Q1 2022. Management appointments have strengthened the engineering and environmental teams, positioning the company for further success.
Canada Nickel Company announced the closing of a $10 million secured loan with Auramet International, with proceeds aimed at funding the Crawford Nickel Sulphide Project.
The loan, due by April 5, 2022, carries a 1% monthly interest rate and includes an arrangement fee of 2%. Additionally, the company issued 325,000 warrants at a strike price of $3.94. This financial support positions Canada Nickel to advance its project while it concludes a strategic investor process in the first quarter of 2022.
Canada Nickel Company announced a US$10 million secured loan facility with Auramet to support the ongoing Crawford Nickel Sulphide Project. The loan, due April 5, 2022, carries a 1% monthly interest and an arrangement fee of 2% of the loan amount. The company is in discussions with strategic investors to enhance funding opportunities and expects to conclude these discussions early next year. Canada Nickel has made progress with drilling results and a Preliminary Economic Assessment, positioning itself well in the nickel market.
Canada Nickel Company (OTCQX: CNIKF) announced improved metallurgical test results from its Crawford Nickel Sulphide Project. Notably, they achieved a 61% nickel recovery rate from a 0.22% nickel sample, surpassing the model outlined in the Preliminary Economic Assessment (PEA) by 19 percentage points. Additionally, iron recovery reached 63%, which is 15 percentage points higher than the PEA model. The company plans further testing to evaluate metallurgical performance across different samples, aiming for more efficiency and enhanced project valuation.
Canada Nickel Company (TSXV: CNC, OTCQX: CNIKF) will present at the Scotiabank Mining Conference on November 30, 2021, at 8:00 a.m. ET. CEO Mark Selby will also participate in one-on-one meetings on November 30 and December 1, 2021. The company is focused on developing next-generation nickel-cobalt sulphide projects to meet the growing demand for electric vehicles and stainless steel. Canada Nickel's flagship project is the Crawford Nickel-Cobalt Sulphide Project located in Timmins-Cochrane mining camp.
Canada Nickel Company has completed 18 transactions to acquire 13 additional target properties near its Crawford Nickel-Sulfide Project. This acquisition expands the total target area to 37.7 square km, significantly larger than the Crawford Main Zone. Notable properties include Sothman, Deloro, and Mann, which exhibit promising historical drill results with high nickel grades. The Sothman property alone holds a historical resource estimate of 190,000 tons grading 1.24% nickel. This strategic consolidation underscores Canada Nickel's commitment to becoming a leader in low-carbon nickel supply.
Canada Nickel Company has announced a conference call on November 22, 2021, at 10:00 a.m. Eastern Time, hosted by Mark Selby, Chair and CEO. The call will provide updates and insights into the company's operations. Participants can join via local Toronto, North American toll-free, or international numbers, with a webcast URL available for online access. A replay will be accessible from 12:30 p.m. ET on the same day until December 13, 2021. Canada Nickel focuses on nickel and cobalt projects for electric vehicle and stainless steel markets.
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