Hard Creek Nickel Corporation Preliminary Assessment report

Hard Creek Nickel Corporation (TSX:HNC) reported that the company has completed an updated positive Preliminary Assessment Study (PA) of the Company’s 100% owned Turnagain Nickel Project, located near Dease Lake in British Columbia, Canada.

The press release is quoted as saying:

The PA recommends open pit mining, milling at a rate of 87,000 tonnes per day, conventional flotation, and Outotec’s chloride leach process followed by on-site nickel solvent extraction – electrowinning (SX-EW) metal refining. With a base case long term price of $8.50 per lb nickel and $17.50 per lb cobalt (all financial data are U.S. $), the study shows the project has a pre-tax Net Present Value of $819 million using an 8% discount rate. The mine would recover 1.88 billion pounds of payable nickel at an average “life of mine” strip ratio of 0.74 to 1 with an overall refined nickel recovery of 52.8% over 24.4 years.

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