Welcome to our dedicated page for Canada Nickel Co news (Ticker: CNIKF), a resource for investors and traders seeking the latest updates and insights on Canada Nickel Co stock.
Canada Nickel Company Inc. (OTCQB: CNIKF) generates a steady flow of news as it advances a portfolio of nickel-sulphide projects in Ontario, Canada. The company’s announcements focus on technical milestones, regulatory developments, economic assessments, and partnerships tied to its flagship Crawford Nickel-Cobalt Sulphide Project and the broader Timmins Nickel District.
Readers following CNIKF news can expect detailed updates on NI 43-101 mineral resource estimates for multiple deposits, including Crawford, Reid, Deloro, Midlothian, Bannockburn, and other properties in the district. Releases often cover new drilling results, changes in measured, indicated, and inferred resources, and the filing of independent technical reports prepared by qualified consulting firms.
Canada Nickel also issues news on permitting and government engagement, such as the referral of Crawford to Canada’s Major Projects Office and its designation under Ontario’s One Project, One Process framework. These items highlight how the project fits within federal and provincial critical minerals strategies and describe steps in the regulatory review process.
Another recurring theme in the company’s news is its net-zero carbon metals strategy. Announcements describe the development of its patented In-Process Tailings (IPT) Carbonation technology, collaborations with NetCarb on enhanced carbon sequestration and by-products, and pilot projects with the University of Texas at Austin and the U.S. DOE ARPA‑E program to test in-situ carbon storage at Crawford.
In addition, Canada Nickel publishes economic impact analyses, share-based compensation grants, and other corporate updates that provide context on project economics, anticipated employment, and capital markets activity. Investors and observers who want to track the evolution of a district-scale nickel sulphide portfolio and associated carbon capture initiatives can monitor this news feed for ongoing developments, technical results, and strategic partnerships related to CNIKF.
Canada Nickel Company is advancing its Crawford Nickel Project with the commencement of the Impact Statement Phase under the Impact Assessment Act. This phase focuses on identifying and mitigating potential impacts of the project. CEO Mark Selby expressed gratitude to partners and Indigenous communities for their support throughout this process. The Crawford Nickel Project aims to support the growing demand in the electric vehicle market and aims for net zero carbon nickel production. Canada Nickel is positioned in the Timmins-Cochrane mining camp, emphasizing low political risk for investors.
Canada Nickel Company has announced impressive results from its first metallurgical test on samples from the Reid property, achieving a nickel recovery rate of 63% and producing the highest grade nickel sulphide concentrate (60% grade) from over 120 previous tests. Utilizing the processing flowsheet from its Crawford project, the Reid tests indicate the potential for significant synergies in the Timmins Nickel District. Furthermore, Canada Nickel has finalized the acquisition of the Texmont property for $4 million, which could lead to smaller scale production. Overall, these developments signal robust prospects for future growth.
Canada Nickel Company has reported assay results from 12 drill holes at its Texmont property, confirming high-grade nickel mineralization over a 400-meter strike length. Highlights include:
- Hole 22-03: 5.2 meters of 2.60% nickel within a broader interval of 21.0 meters at 1.22% nickel.
- Hole 22-06: 4.0 meters at 2.43% nickel within 12.0 meters averaging 1.45% nickel.
The total drilling includes 39 holes over 9,670 meters, supporting the potential for near-term open-pit production. A mineral resource estimate is expected later this year.
Canada Nickel Company has secured a $24 million investment from Anglo American at a price of $1.95 per share, representing a 10% premium to the 30-day volume weighted average price. This investment will make Anglo American a 9.9% shareholder in Canada Nickel. In conjunction with this deal, an Offtake Term Sheet has been established, granting Anglo American exclusive rights to purchase 10% of nickel recoveries from the Crawford Nickel Project. Additionally, a Material Transfer and Technology Testing Agreement will explore operational efficiencies using Anglo American’s FutureSmart Mining™ technology. The deal is expected to close around February 28, 2023.
Canada Nickel Company has announced promising exploration results from its Reid Property, located 16 km from the Crawford Nickel discovery. All 16 drillholes intersected significant nickel mineralization, with the Central Core Area showing a mineralized width over 500 meters, 50% wider than Crawford Main Zone. The total target footprint of Reid is 3.9 km², over twice that of Crawford. Additionally, the company has extended the repayment of a $10 million loan with Auramet to March 3, 2023, facilitating planned financing initiatives. These developments mark Reid as a significant nickel discovery and bolster Canada Nickel's position in the market.
Canada Nickel Company has confirmed the integration of carbon capture and storage into its Crawford Nickel Project, positioning it as a potential leader in carbon storage in Ontario and Canada. The latest test work supports the IPT Carbonation process, demonstrating significant CO2 capture capabilities. An integrated feasibility study is expected by Q2 2023, with plans for production permitting by mid-2025. The project aligns with government climate initiatives and may qualify for significant tax credits, enhancing its financial viability for stakeholders.
Canada Nickel Company (OTCQX: CNIKF) announced successful drilling results from its Reid and Sothman properties, confirming a significant nickel discovery. Notably, hole REI22-07 revealed 325 meters of 0.29% nickel, including 81 meters of 0.35% nickel. The new discovery at Sothman included five drill holes intersecting mineralization. The ongoing exploration program aims to enhance confidence in identifying additional high-grade nickel deposits across the company’s extensive targets.
Canada Nickel Company announced successful results from pilot plant testing at its Crawford Nickel Project. Key achievements include an 18% improvement in iron recovery and a 15% increase in chromium recovery, along with a 16% increase in iron grade to 55%. The testing confirms the effectiveness of the updated magnetite circuit, and discussions are ongoing with several stainless and ferroalloy producers for downstream processing partnerships. The project aims to produce nickel, chromium, and other valuable by-products while focusing on zero carbon production methods.
Canada Nickel Company announced significant advancements in its IPT Carbonation Process for carbon capture, tripling efficiency within 24 hours. This method could enable the production of Net Zero Nickel and generate up to 21 tonnes of CO2 credits per tonne of nickel. The Crawford Project is projected to yield 710,000 tonnes of CO2 credits annually, totaling 18 million tonnes over its life. The process simplifies the quantification of carbon capture, making it a potential game-changer in sustainable mining.
Canada Nickel Company has successfully closed a US$10 million secured loan facility with Auramet International. This funding will support post-feasibility work on permitting and detailed engineering for the Crawford Nickel-Cobalt Sulphide Project during the winter months. The loan carries a 1.00% monthly interest rate and is due January 18, 2023, with additional terms including a 2% arrangement fee and the issuance of 325,000 warrants at $1.52 per share.
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