#Canada #Toronto #Canada Nickel #Crawford Project #NetZero Nickel

Canada Nickel's Crawford Project Reaches New Milestone

Canada Nickel Company Inc. has recently announced a significant achievement with the completion of its Front End Engineering and Design (FEED) for the Crawford Project. The results reveal promising financial improvements, including a noteworthy increase in both net present value (NPV) and internal rate of return (IRR), which are critical metrics for stakeholders and potential investors.

Enhanced Economic Metrics

The figures signal good news for the Crawford Project: the NPV8% has increased by more than $300 million, now standing at $2.8 billion, while the IRR saw a rise of 0.5% to reach 17.6%. These figures are based on an initial capital cost that remains modestly under control, with an increase limited to just 5%, which brings the total to around $2 billion. Given the current context of rising costs in the mining sector, this is a considerable achievement.

Mark Selby, CEO of Canada Nickel, praised the team's efforts, emphasizing their commitment to maintaining robust economic viability amidst challenges. “Many mining development projects have faced inflation challenges, yet we are proud to report that our initial cost increase remains minimal,” he said, highlighting strategies that optimized their mining schedule and design simplifications.

Strategic Planning and Optimization

In addition to economic benefits, the FEED process also facilitated a resequencing of the mining plan. The Company plans to prioritize ore extraction from the East Zone, which will increase the yield of higher value ore and decrease pre-stripping activities by a substantial 30%. This adjustment underscores Canada Nickel's strategic focus on maximizing resource value and operational efficiency.

The Company is also working closely with financing partners, including Scotiabank and Deutsche Bank, to finalize a funding package for the project by year-end. Such planning is crucial as they prepare to secure the necessary permits for construction. Funding will be directed toward crucial orders in the next phases of the project, showcasing a proactive approach to mitigate potential delays in construction.

Continued Commitment to Sustainability and Carbon Neutrality

Canada Nickel Company is not just focused on immediate project milestones; they are also dedicated to long-term sustainability. The team has initiated processes aimed at enabling the production of net zero carbon nickel, cobalt, and iron products. Their goal is to respond to the growing demand for materials required for electric vehicles and sustainable energy needs, in alignment with global environmental initiatives.

In support of their sustainability efforts, Canada Nickel has applied for trademark rights for terms like NetZero Nickel and NetZero Cobalt, marking a commitment to lead in the ‘green mining’ sector.

Looking Forward

As Canada Nickel continues its work on the Crawford Project, the focus on securing funding, finalizing permits, and optimizing operations will be crucial to ensure timely and successful construction decisions. Stakeholders are encouraged to stay informed as the Company progresses through its upcoming phases, enhancing economic viability while addressing the pressing issues related to sustainable mining practices.

In conclusion, the completion of the FEED marks a notable achievement for Canada Nickel. With improved project economics and a strategic plan in place, the company is well on its way to becoming a leading player in the nickel production sector, contributing to the sustainable needs of tomorrow's technological advancements.