FPX Nickel Corp.   is pleased to report that it will be participating in Renmark Financial Communications Inc.'s live Virtual Non-Deal Roadshow Series to provide a Company overview and discuss its 2021 plans on Wednesday, February 24 th at 4:00 pm Eastern time .  FPX welcomes stakeholders, investors, and other individual followers to register and attend this live event using the following registration link: FPX is ...

FPX Nickel Corp. (TSXV: FPX) (" FPX " or the " Company ") is pleased to report that it will be participating in Renmark Financial Communications Inc.'s live Virtual Non-Deal Roadshow Series to provide a Company overview and discuss its 2021 plans on Wednesday, February 24 th at 4:00 pm Eastern time ( 1:00 pm Pacific time ).  FPX welcomes stakeholders, investors, and other individual followers to register and attend this live event using the following registration link: https:talk-deck.cominfolive-register?292!ut9dx30v1dy

FPX is focused on the advancement of the Baptiste Project (" Baptiste " or the " Project ") at its wholly-owned Decar Nickel District in central British Columbia.  A recent Preliminary Economic Assessment (" PEA ") for Baptiste demonstrates the potential for establishing a greenfield open-pit mine and an on-site magnetic separation and flotation processing plant, using conventional technology and equipment.

At the PEA base case of US$7.75 /lb nickel, the Project is expected to generate an after-tax net present value (" NPV ") (8%) of US$1.7 billion and internal rate of return (" IRR ") of 18.3%.  Based on the sensitivity analysis performed for the PEA, at a nickel price of US$8.52 /lb (10% higher than the base case of US$7.75 /lb), the Project is expected to generate an after-tax NPV of US$2.2 billion and IRR of 20.7%. At the close of trading on February 19, 2021 , the LME nickel spot price was US$8.84 /lb.

A summary of the PEA highlights is provided in Table 1.

Table 1 – Baptiste Project PEA Results and Assumptions (all in US$)

Results

Pre-tax NPV (8% discount rate)

$2.93 billion

Pre-tax IRR

22.5%

Payback period (pre-tax)

3.5 years

After-tax NPV (8% discount rate)

$1.72 billion

After-tax IRR

18.3%

Payback period (after-tax)

4.0 years

Net cash flows (after-tax, undiscounted)

$8.73 billion

C1 operating costs 1

$2.74/lb nickel

AISC costs 2

$3.12/lb nickel

Assumptions

Processing throughput

120,000 tonnes per day

Mine life

35 years

Life-of-mine stripping ratio (tonnes:tonnes)

0.40:1

Life-of-mine average annual nickel production

99 million lbs.

Nickel price 3

$7.75/lb

Baptiste product payability (% of nickel price)

98%

Pre-production capital expenditures

$1.67 billion

Sustaining capital expenditures

$1.11 billion

Exchange rate

0.76 US$/C$

1.

C1 operating costs are the costs of mining, milling and concentrating, on-site administration and general expenses, metal product treatment charges, and freight and marketing costs less the net value of by-product credits, if any. These are expressed on the basis of per unit nickel content of the sold product.

2.

AISC of all-in sustaining costs comprise the sum of C1 costs, sustaining capital, royalties and closure expenses. These are expressed on the basis of per unit nickel content of the sold product.

3.

Nickel price is based on the average of six long-term analyst forecast prices.

The PEA is preliminary in nature and 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.  Mineral resources are not mineral reserves and do not have demonstrated economic viability.  There is no certainty that the conclusions or results as reported in the PEA will be realized.

The PEA was produced by a team of independent consultants who possess extensive expertise in their respective fields.  Further details on the contributors can be found in the Qualified Persons section of the Company's news release dated September 9 , 2020.

About the Decar Nickel District

The Company's Decar Nickel District claims cover 245 square kilometres of the Mount Sidney Williams ultramafic/ophiolite complex, 90 km northwest of Fort St. James in central British Columbia . The District is a two-hour drive from Fort St. James on a high-speed logging road.

Decar hosts a greenfield discovery of nickel mineralization in the form of a naturally occurring nickel-iron alloy called awaruite, which is amenable to bulk-tonnage, open-pit mining. Awaruite mineralization has been identified in four target areas within this ophiolite complex, being the Baptiste Deposit, the B target, the Sid target and Van target, as confirmed by drilling in the first three plus petrographic examination, electron probe analyses and outcrop sampling on all four.  Since 2010, approximately US $24 million has been spent on the exploration and development of Decar.

Of the four targets in the Decar Nickel District, the Baptiste Deposit, which was initially the most accessible and had the biggest known surface footprint, has been the main focus of diamond drilling since 2010, with a total of 82 holes and over 31,000 metres of drilling completed.  The Sid target was tested with two holes in 2010 and the B target had a single hole drilled into it in 2011; all three holes intersected nickel-iron alloy mineralization over wide intervals with DTR nickel grades comparable to the Baptiste Deposit.  The Van target was not drill-tested at that time as rock exposure was very poor prior to logging activity by forestry companies.

As reported in the current NI 43-101 resource estimate, having an effective date of September 9, 2020 , the Baptiste Deposit contains 1.996 billion tonnes of indicated resources at an average grade of 0.122% DTR nickel, containing to 2.4 million tonnes of nickel, plus 593 million tonnes of inferred resources with an average grade of 0.114% DTR nickel, containing 0.7 million tonnes of nickel, both reported at a cut-off grade of 0.06% DTR nickel.  Mineral resources are not mineral reserves and do not have demonstrated economic viability.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company's website at www.fpxnickel.com or contact Martin Turenne , President and CEO, at (604) 681-8600 or ceo@fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements
Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2021/22/c8229.html

News Provided by Canada Newswire via QuoteMedia

Battery Mineral Resources  to Webcast Live at VirtualInvestorConferences.com December 8th

Battery Mineral Resources to Webcast Live at VirtualInvestorConferences.com December 8th

Battery Mineral Resources (TSXV-BMR, OTCQB-BTRMF), based in Canada and focused on supplying the market with battery metals, today announced that Martin Kostuik CEO & Director, will present live at VirtualInvestorConferences.com on December 8th at 12:30pm 2021.

Keep reading... Show less
Electra Increases Base Shelf Offering Size by $50 million

Electra Increases Base Shelf Offering Size by $50 million

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/

TSX.V: FCC
OTCQX: FTSSF

Keep reading... Show less
Electra Files Third Quarter 2021 Financial Results

Electra Files Third Quarter 2021 Financial Results

Electra Battery Materials Corporation (TSXV: FCC) (OTCQX: FTSSF) ("Electra" or the "Company") today announced the filing of its unaudited financial results for the three and nine-month period ended September 30, 2021 .

For complete details of the condensed interim consolidated financial statements and the associated management's discussion and analysis, please refer to the Company's filing on SEDAR ( www.sedar.com ) or the Company's website ( www.firstcobalt.com ).

Keep reading... Show less
Canada Silver Cobalt now has a 6-Kilometer Strike Length with Various Levels of Massive Sulphides at Graal Property in Northern Quebec

Canada Silver Cobalt now has a 6-Kilometer Strike Length with Various Levels of Massive Sulphides at Graal Property in Northern Quebec

(TheNewswire)

Canada Silver Cobalt Works Inc.

The consolidation of properties at Graal allows the Company to hold 6 kilometers of land (strike length) containing near-surface Nickel, Copper, and Cobalt mineralization based on historical drilling and the current drill program

Keep reading... Show less
Dalmacia Drilling Delivers Encouraging Initial Copper Results at Battery Mineral Resources Punitaqui Mine

Dalmacia Drilling Delivers Encouraging Initial Copper Results at Battery Mineral Resources Punitaqui Mine

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to announce encouraging drill core assay results from the 2021 exploration and in-fill drill program at the Punitaqui mine complex ("Punitaqui") in Chile. Punitaqui is slated for resumption of copper concentrate production in mid to late-2022. The Dalmacia Target is second of several historic zones within BMR's Punitaqui project with partially delineated resources and established underground access. Dalmacia is located in the southern portion of the Punitaqui area about 6 kilometers south of the Punitaqui copper processing plant.

Highlights

Keep reading... Show less
Battery Mineral Resources Provides Corporate Development Update

Battery Mineral Resources Provides Corporate Development Update

Battery Mineral Resources Corp. (TSXV: BMR) (OTCQB: BTRMF) ("Battery" or "BMR" or the "Company") is pleased to provide an update regarding business activities and outline steps towards potential near term cash generation. The recently acquired Punitaqui mine in Chile is slated for resumption of copper production in mid to late-2022.

Battery is an investor focused company with high-quality assets providing shareholder exposure to the global mega-trend of electrification via our assets and the commodities they represent - namely cobalt, graphite, lithium and copper. BMR is determined to provide value growth through cash-flow, exploration and acquisitions in top mining jurisdictions.

Keep reading... Show less

Top News

Related News