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    CNC   CA13515Q1037

CANADA NICKEL COMPANY INC.

(CNC)
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Canada Nickel : Investor Presentation - October 12, 2021

10/12/2021 | 11:02am EST

Introduction to

Canada Nickel Company

Delivering the Next Generation of Nickel

TSX-V: CNC

October 12, 2021

Forward Looking Statements

This Presentation contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation about Canada Nickel Company Inc. ("CNC"). Forward looking information includes, but is not limited to, the results of the Crawford preliminary economic assessment ("PEA") including statements relating to net present value, future production, estimates of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, estimates of capital and operating costs, timing for permitting and environmental assessments, realization of mineral resource estimates, capital and operating cost estimates, project and life of mine estimates, ability to obtain permitting by the time targeted, size and ranking of project upon achieving production, economic return estimates, the timing and amount of estimated future production and capital, operating and exploration expenditures and potential upside and alternatives. Readers should not place undue reliance on forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of CNC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The PEA results are estimates only and are based on a number of assumptions, any of which, if incorrect, could materially change the projected outcome. There are no assurances that Crawford will be placed into production. Factors that could affect the outcome include, among others: the actual results of development activities; project delays; inability to raise the funds necessary to complete development; general business, economic, competitive, political and social uncertainties; future prices of metals or project costs could differ substantially and make any commercialization uneconomic; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; accidents, labour disputes, the availability and productivity of skilled labour and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities; mineral resource estimates relating to Crawford could prove to be inaccurate for any reason whatsoever; additional but currently unforeseen work may be required to advance to the feasibility stage; and even if Crawford goes into production, there is no assurance that operations will be profitable.

This Presentation has been completed by CNC. Certain corporate projects referred to herein are subject to agreements with third parties who have not prepared, reviewed or approved this Presentation. The Presentation is not intended to reflect the actual plans or exploration and development programs contemplated for such projects. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, CNC disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although CNC believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

The scientific and technical information contained in this Presentation has been reviewed by Steve Balch, P. Geo, (VP Exploration) and a Qualified Person within the meaning of National Instrument 43-101. The PEA, prepared by Ausenco Engineering Canada Inc. in accordance with National Instrument 43-101. The PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the results of the PEA will be realized. See Appendix for the Crawford PEA assumptions and the press release of CNC dated May 25, 2021.

Foreign Exchange Assumptions

All amounts discussed herein are denominated in CAD dollars unless otherwise specified.

2

Summary

Canada Nickel is the leader in the next generation of large scale nickel supply and one of few new sources of potential supply outside Indonesia/China

Nickel market fundamentally short of nickel in medium and long-term - little to no supply growth outside Indonesia/China - potential supercycle emerging which occurs every 15-20 years

  • Nickel demand growth continues to be underestimated - up 15%+ this year (3-5X other base metals) and forecasted to double by 2030 to 5+ Mt with stainless growth at 4% (low end of historical range) and EV growth at just 20% annually
  • ROW nickel consumers facing shrinking supply for past 6 years - supply increasingly dominated by China/Indonesia

Nickel first two generations of supply - 1st: large higher-grade sulphides (Sudbury, Norilsk, Jinchuan,

Western Australia), 2nd: NPI (China/Indonesia) - came with massive environmental airborne footprint

  • Sulphide deposits historically produced more than 1 tonne of SO2 per tonne of nickel
  • Nickel produced as NPI generates 50-80 tonnes of CO2 per tonne of nickel

Canada Nickel's Crawford Nickel Sulphide discovery represents the Next Generation of Nickel - large scale, lower grade, open pit nickel sulphide project with potential for low airborne footprint

- District scale potential in an established mining camp adjacent to existing infrastructure north of Timmins, Ont., Canada - Groundbreaking, mutually beneficial MOUs signed with local First Nations

- Canada Nickel has launched wholly-owned NetZero Metals Inc. to develop zero-carbon production of Nickel, Cobalt and Iron - has applied for trademarks NetZero NickelTM, NetZero CobaltTM, NetZero IronTM

- Latest metallurgical results deliver significant improvements in nickel recovery, cobalt recovery, and iron grades/recovery

- Canada Nickel completed PEA on May 25th, which confirms robust economics - US$1.2 billion after-tax NPV8% and 16% after-tax IRR with first quartile net C1 cash cost of US$1.09/lb and net AISC of US$1.94/lb of nickel

- Feasibility study in 2022 - substantial upside resource potential and other initiatives to be included

- Potential to use Glencore's Kidd Creek mill as lower cost, smaller scale, faster startup option

3

Board and Management Team

David Smith

Senior VP, Finance and CFO of Agnico Eagle Mines

Director

Limited;

P.Eng., C.Dir.

Chartered Director, Director of Sprott Resource

Holdings

Mark Selby

Previous CEO of Royal Nickel Corporation

Chairman, CEO

Corporate development, strategy, business

B.Comm.

planning and market research Executive with

Quadra Mining and Inco

Nickel market expert

Francisca Quinn

Co-founder and President of Quinn & Partners Inc.,

Director

a recognized advisory firm advancing sustainability

M.Sc.

in business and capital markets;

Previously with Carbon Trust and WSP Global

Wendy Kaufman

CFO

CPA, CA

  • >25 years of experience leading mining companies in project finance, capital structure, capital markets, accounting and internal controls, tax, financial reporting and public disclosure; completed $4 billion finance for Cobre Panama

Jennifer Morais

>20 years as senior executive in private equity,

Director

alternative finance, mining finance and

BA, MBA, CFA

management consulting; previously with TPG

Capital, CPPIB, OMERS, Hatch and CIBC

Steve Balch

VP, Exploration

P.Geo.

  • Geophysicist with 35 years experience specializing in Ni-Cu-PGE deposits including for Inco Limited in the Sudbury Basin and Voiseys Bay
  • Active in developing geophysics technology used in exploration globally

Kulvir Singh Gill

20 years of experience in innovation and

Director

sustainability in mining; lead innovation and

B.Comm., ICD.D

growth projects for Fortune 500 clients across the

mining, O & G and heavy industrial sectors

John Leddy

Senior Advisor,

Legal

LL.B.

  • Senior Advisor, Legal and Strategic Matters at Karora Resources Inc. (formerly RNC Minerals);
  • Over 20 years' experience as a business lawyer and former Partner at Osler

Mike Cox

Managing Partner at CoDa Associates; previously

Director

head of Vale UK and Asian refineries following over

B.Sc., MBA

30 years in senior leadership roles in Base Metals

with Inco and Vale

Russell Starr

Previously in senior roles with RBC Capital

Director

Markets, Scotia Capital, Orion Securities, and

MA, MBA

Blackmont; SVP and Director of Cayden Resources

(acquired by Agnico for $205M)

Pierre-Philippe

>15 years of experience in successfully obtaining

Dupont

environmental, community stakeholder and First

VP, Sustainability

Nation approvals for mining projects, including

M.Sc.

permitting Dumont Nickel and Canadian Malartic;

former Director of Sustainability at Glencore

Christian

30 years of experience with engineering, design

Brousseau

and construction in mining, including >6 years as

Project Director

project Director for the Dumont Nickel Project,

P.Eng., MBA, ing.

three years as the Engineering and Construction

Manager for Detour Gold

4

Nickel Demand Growth Accelerating from EVs

Nickel demand growth continues to be underestimated - up 15%+ this year (3-5Xother base metals) and forecasted by CNC to double by 2030 to 5+ Mt - even at low end of trend 4-5% demand growth for historical nickel uses

Global Nickel Demand (Mtpa)

2020, 2021 & 2030 forecast

5.1

1.5

Battery

2.4

2.8

20% growth

0.3

4% growth

3.6

Stainless &

2.2

2.5

Other Uses

2020

2021

2030

Source: INSG, CNC Analysis

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Canada Nickel Company Inc. published this content on 12 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 October 2021 15:01:02 UTC.


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Financials
Sales 2020 - - -
Net income 2020 -3,08 M -2,41 M -2,41 M
Net cash 2020 11,2 M 8,76 M 8,76 M
P/E ratio 2020 -52,2x
Yield 2020 -
Capitalization 343 M 268 M 269 M
EV / Sales 2019
EV / Sales 2020 -
Nbr of Employees -
Free-Float 85,4%
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Mean consensus BUY
Number of Analysts 6
Last Close Price 3,83 CAD
Average target price 6,06 CAD
Spread / Average Target 58,2%
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