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    CNC   CA13515Q1037

CANADA NICKEL COMPANY INC.

(CNC)
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Canada Nickel Company Inc. Continues to Demonstrate Significant Improvements in Metallurgical Performance At Crawford Nickel Sulphide Project

12/02/2021 | 07:00am EST

Canada Nickel Company Inc. announced further results of metallurgical testing at its Crawford Nickel Sulphide Project that continue to demonstrate significant improvements in metal recoveries relative to the Preliminary Economic Assessment ("PEA"). The latest metallurgical test work results are from a sample taken from the South Low Grade region of the Crawford Main Zone. The achievement of 61% nickel recovery from a low grade sample is consistent with results from other samples in the news release dated October 5, 2021. The Company is commencing the first phase of metallurgical variability testing for the feasibility study to better understand metallurgical performance from samples taken throughout the Crawford resource. This open circuit test ("OCT") was completed at COREM on a heazlewoodite dominant sample with a head grade of 0.22% nickel, 6.8% iron and a sulphur to nickel ratio of 0.36. The sample was selected from the South Low Grade region of the Crawford Main Zone and achieved a nickel recovery of 61%, which is 19 percentage points higher than what was modelled for this type of sample in the PEA. In addition to the excellent nickel recovery, the iron and chromium recoveries were also 15 and 18 percentage points higher than what was modelled in the PEA respectively. This sample was taken from drill hole CR21-167 from the South Low Grade Zone of the Crawford Main Zone. The average nickel grade of this zone of the deposit is 0.21% nickel and the sample head grade was 0.22% nickel. The company is encouraged by nickel recoveries in excess of 60% by lower grade samples such as the one used in this test, which is attributed to the optimization and development work completed by the Company since issuing the PEA. In the next phase of metallurgical test work, Canada Nickel will complete variability testing on samples from the Crawford Main and East Zones starting with samples from the East Zone.


ę S&P Capital IQ 2021
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Financials
Sales 2020 - - -
Net income 2020 -3,08 M -2,45 M -2,45 M
Net cash 2020 11,2 M 8,88 M 8,88 M
P/E ratio 2020 -52,2x
Yield 2020 -
Capitalization 315 M 251 M 250 M
EV / Sales 2019
EV / Sales 2020 -
Nbr of Employees -
Free-Float -
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Mean consensus BUY
Number of Analysts 6
Last Close Price 3,51 CAD
Average target price 6,06 CAD
Spread / Average Target 72,6%
Managers and Directors
Mark Thomas Henry Selby Chairman, President & Chief Executive Officer
Wendy Kaufman Chief Financial Officer
David Smith Independent Non-Executive Director
Michael James Cox Independent Non-Executive Director
James Russell Starr Independent Non-Executive Director