Homeland Nickel (OTCQB: SRCGF) appointed Heida Mani as chair of its Advisory Board to guide processing and commercialization strategy.
Her remit covers the company's nine U.S. nickel properties in Oregon, including Cleopatra and Red Flat. Working with management and consultants, she will focus on processing flowsheets—the steps used to process ore—to align product parameters with domestic U.S. processing requirements. This work supports Homeland's existing binding agreement to supply nickel concentrate to Westwin Elements. Mani has over 36 years of industry experience, including 23 years at Inco and Vale.
Homeland also granted 1,200,000 restricted share units to certain directors and officers. The units vest 12 months after the grant, with each entitling its holder to acquire one common share under the long-term incentive plan.
Homeland Nickel (SRCGF) signed a binding offtake agreement with Westwin Elements for future nickel concentrate supply from its Red Flat project. The agreement would provide an estimated 20,000 tonnes annually from the Southern Oregon property, with Westwin holding exclusive offtake rights for Red Flat.
Homeland will complete an updated mineral resource estimate and a preliminary economic analysis, and expects to deliver both in Q1 or Q2 2027. Westwin will have 90 days to review the reports and start a bankable feasibility study, a detailed assessment of project viability. Westwin will entirely fund that study, including permitting, drilling and environmental assessment, once satisfied with the preliminary analysis. The updated resource estimate is underway; neither it nor the preliminary analysis requires additional permitting or drilling. Mining remains a future development step.
Spruce Ridge Resources Ltd. has entered an agreement to acquire mineral leases and oil and gas rights in Saskatchewan from Repsol Canada Energy Partnership for $50,000. The acquisition includes 5 active oil wells, 10 suspended wells, pipelines, and a produced water disposal well, covering 793 ha with an average working interest of 84%. With current crude prices, Spruce Ridge aims to start production from 5 to 7 oil wells, reducing operating costs and potentially generating additional revenue from third-party disposal arrangements. The asset holds significant undeveloped resource potential.