Northern Dynasty Announces US$15 Million Convertible Notes Offering and Up To CAD$3.4 Million Private Placement

Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company") reports it has entered into a definitive agreement (the "Agreement") with an Investor for US$15,000,000 aggregate principal amount convertible notes of the Company (the "Convertible Notes Offering") and plans to complete a non-brokered private placement for aggregate proceeds of up to CAD$3,400,000

Per the terms of the Agreement, Kopernik Global Investors, LLC on behalf of its clients (collectively, the "Investor"), will purchase convertible notes having an aggregate principal amount of US$15,000,000 (the "Notes"). The Notes will have a term of 10 years from the date of issuance and will bear interest at a rate of 2.0% per annum, payable semi-annually in arrears on December 31 and June 30 of each year, commencing on June 30, 2024. The principal amount of the Notes will be convertible at any time at the option of the Investor at a per share conversion price of US$0.3557, which is equal to a 10% premium to the 5-day volume weighted average price on the NYSE American ("NYSE American"), subject to adjustment in certain circumstances (i.e., including a change of control). The terms of the Notes will require that the Company redeem the note at 150% of the principal amount of the Notes, plus accrued but unpaid interest, at the election of the Investor, in the event that the Company proceeds with an equity financing in the future, subject to customary exclusions for non-financing issuances of its equity securities. In addition, the Notes will include change of control provisions under which (i) the Investor may elect to convert the Notes concurrent with a change of control transaction at the lower of the fixed conversion price and the price per common share implied by the change of control transaction, and (ii) the Company will be required to offer to repurchase the Notes at 101% of the principal amount, plus accrued but unpaid interest, if the Investor does not elect to convert. Timing of closing is subject to both parties satisfying certain closing conditions.

The Company also proposes to issue and sell by non-brokered private placement up to 8,500,000 units of the Company (the "Units"), at a price of CAD$0.40 per Unit, for aggregate gross proceeds of up to CAD$3,400,000 (the "Unit Offering"). Each Unit shall consist of one common share of the Company and one transferable share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company (a "Warrant Share") for a period of two years from the date of issue at a price of CAD$0.45 per Warrant Share. The Warrants will be subject to accelerated expiry upon 30 calendar days' notice from the Company in the event the Company's common shares trade for 20 consecutive trading days any time after four months from Closing at a volume weighted average price of at least CAD$0.90 on either the Toronto Stock Exchange ("TSX") or the NYSE American. The Units are proposed to be sold and issued under the Unit Offering pursuant to exemptions from prospectus requirements and other similar requirements under applicable securities laws. The Units will be subject to resale restrictions under applicable securities laws in Canada and the United States.

The closing of the Convertible Notes Offering and the Unit Offering are subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals including, without limitation, the approval of the TSX and the NYSE American. Closing of the Convertible Notes Offering is not conditional upon the closing of the Unit Offering and closing of the Unit Offering is not conditional on the closing of the Convertible Notes Offering. The net proceeds of the Convertible Notes Offering and the Unit Offering are expected to be used by the Company to fund the ongoing permitting process of the Pebble Project and for general corporate purposes including working capital.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Northern Dynasty Minerals Ltd.

Northern Dynasty is a mineral exploration and development company based in Vancouver, Canada. Northern Dynasty's principal asset, owned through its wholly owned Alaska-based U.S. subsidiary, Pebble Limited Partnership, is a 100% interest in a contiguous block of 1,840 mineral claims in Southwest Alaska, including the Pebble deposit, located 200 miles from Anchorage and 125 miles from Bristol Bay. The Pebble Partnership is the proponent of the Pebble Project.

For further details on Northern Dynasty and the Pebble Project, please visit the Company's website at www.northerndynastyminerals.com or contact Investor services at (604) 684-6365 or within North America at 1- 800-667-2114. Review public filings, which include forward looking information cautionary language and risk factor disclosure regarding the Company and the Pebble Project in Canada at www.sedarplus.ca and in the United States at www.sec.gov.

Ronald W. Thiessen
President & CEO

U.S. Media Contact:
Dan Gagnier, Gagnier Communications (646) 569-5897

Forward Looking Information and other Cautionary Factors

This release includes certain statements that may be deemed "forward-looking statements" under the United States Private Securities Litigation Reform Act of 1995 and under applicable provisions of Canadian provincial securities laws. All statements in this release, other than statements of historical facts, which address permitting, development and production for the Pebble Project are forward-looking statements. These include statements regarding: (i) the execution of definitive agreements in connection with the purchase by the Investor of the Notes and the satisfaction of the conditions precedent to closing of the Convertible Notes Offering, (ii) the completion of the Unit Offering; (iii) the use of proceeds of each of the Convertible Notes Offering and the Unit Offering; (iv) the ability of the Pebble Project to ultimately secure all required federal and state permits; (v) if permitting is ultimately secured, the ability to demonstrate that the Pebble Project is commercially viable; (vi) the ability of the Company and/or the State of Alaska to successfully challenge the EPA's Final Determination process under the Clean Water Act; and (vii) the ability of the Company to secure the significant additional financing, including the Convertible Notes Offering and the Unit Offering, to fund these objectives as well as ultimately funding mine construction, for which financing may not be available to NDM on acceptable terms or on any terms at all.

Although NDM believes the expectations expressed in these forward-looking statements are based on reasonable assumptions, such statements should not be in any way be construed as guarantees that the Pebble Project will secure all required government and environmental permits, regarding the ability of NDM to develop the Pebble Projects in light of the EPA's Final Determination or regarding NDM's ability to secure significant additional financing, including the completion of the Convertible Notes Offering and the Unit Offering.

Assumptions used by NDM to develop forward-looking statements include the following assumptions: (i) the Pebble Project will ultimately obtain all required environmental and other permits and all land use and other licenses; (ii) any action taken by the EPA in connection with the Final Determination will ultimately not be successful in restricting or prohibiting development of the Pebble Project; and (iii) the Company or its subsidiaries will be able to secure significant additional financing, including the completion of the Convertible Notes Offering and the Unit Offering.

NDM is also subject to the specific risks inherent in the mining business as well as general economic and business conditions. Investors should also consider the risk factors identified in the Company's Annual Information Form for the year ended December 31, 2022, as filed on SEDAR plus and included in the Company's annual report on Form 40-F filed by the Company with the SEC on EDGAR, and the Company's Management Discussion and Analysis for the year ended December 31, 2022, and nine months ended September 30, 2023, each as filed on SEDAR plus and EDGAR, for a discussion of the risks that may impact our forward-looking statements.

The National Environment Policy Act Environmental Impact Statement process requires a comprehensive "alternatives assessment" be undertaken to consider a broad range of development alternatives, the final project design and operating parameters for the Pebble Project and associated infrastructure may vary significantly from that currently contemplated. As a result, the Company will continue to consider various development options and no final project design has been selected at this time.

For more information on the Company, Investors should review the Company's filings with the United States Securities and Exchange Commission at www.sec.gov and its home jurisdiction filings that are available at www.sedarplus.ca.

SOURCE:Northern Dynasty Minerals Ltd.



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Northern Dynasty: Files Motion to Modify its EPA Veto Complaint by Adding New Claims Against the US Army Corps of Engineers

Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company") and 100%-owned U.S.-based subsidiary Pebble Limited Partnership ("Pebble Partnership" or "PLP") have filed a motion for leave to file an amended complaint in the federal district court in Alaska to reverse the U.S. Army Corps ("USACE") decision to deny the project a permit

Ron Thiessen, President and CEO of Northern Dynasty, said "It is important to understand that this is not a new lawsuit. It is simply an amendment of the complaint we filed against the Environmental Protection Agency ("EPA") by adding the USACE as another defendant. We think this substantially strengthens the existing case by focusing directly on the permit denial which was an underlying reason for the EPA veto."

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Northern Dynasty Makes Annual Filings

Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company") announces that it has filed its audited Financial Statements, Management Discussion and Analysis, Annual Information Form and Annual Report on Form 40F for the year ending December 31, 2023. The Company also advises that, consistent with previous years, its audited consolidated financial statements for the fiscal year ended December 31, 2023 included in the Company's Annual Report on Form 40F, contained an audit report from its independent registered public accounting firm with a going concern emphasis of matter. Release of this information is required by Section 610(b) of the NYSE American Company Guide. It does not represent any change or amendment to any of the Company's filings for the fiscal year ended December 31, 2023

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Northern Dynasty: USACE Updates the Pebble Permitting Process in Light of the EPA Veto

Northern Dynasty Minerals Ltd. (TSX:NDM);(NYSE American:NAK) ("Northern Dynasty" or the "Company") and 100%-owned U.S.- based subsidiary Pebble Limited Partnership ("Pebble Partnership" or "PLP") have been advised by the US Army Corps of Engineers ("USACE") that, after months of successive delays, the USACE has declined to engage in the remand process related to the November 25, 2020 denial of a permit application for the Pebble Project, citing the U.S. Environmental Protection Agency's ("EPA") intervening veto of the development at Pebble

After the November 25, 2020, denial of the permit application for the Pebble Project, a separate division of the USACE remanded the denial decision back to the USACE Alaska District on April 25, 2023, after an administrative review found numerous errors with the denial decision. Today, after several requests for extensions, the USACE has announced that it has declined to engage in the remand process altogether. The USACE reasoning is due to the EPA veto, which effectively prevents them from altering their decision while that veto is in place. On March 15, 2024, we announced we were filing an appeal of the EPA veto in Federal District Court in Alaska, and the State of Alaska filed its action against the veto on April 11, 2024.

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Northern Dynasty: State of Alaska Files Action Seeking to Vacate EPA's Unlawful Veto

Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company") and 100%-owned U.S.-based subsidiary Pebble Limited Partnership ("Pebble Partnership" or "PLP") note that on April 11, 2024 the State of Alaska ("the State") filed an action in Federal District Court in Alaska, seeking to vacate the Environmental Protection Agency's ("EPA") veto of a development at Pebble

To read the State's announcement of its filing, see the following link: Press Release - State Files Against EPA in U.S. District Court, Calling Out Unlawful Order on State Land in Bristol Bay (alaska.gov)

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Northern Dynasty Files Two Separate Actions: Seeking to Vacate EPA's Illegal Veto and a Takings Case

Northern Dynasty Minerals Ltd. (TSX:NDM)(NYSE American:NAK) ("Northern Dynasty" or the "Company") and 100%-owned U.S.-based subsidiary Pebble Limited Partnership ("Pebble Partnership" or "PLP") is filing two separate actions in the federal courts challenging the federal government's actions to prevent the companies from building a mine at the Pebble Project

Action Seeks to overturn EPA's illegal veto

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WESTERN COPPER AND GOLD STRENGTHENS MANAGEMENT TEAM

WESTERN COPPER AND GOLD STRENGTHENS MANAGEMENT TEAM

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce additions to the Company's senior management team.

Western Copper and Gold Corporation logo (CNW Group/Western Copper and Gold Corporation)

In early August, Michael Psihogios will be taking over the role of Chief Financial Officer from Varun Prasad , and Jeff Eng will be assuming the role of Vice President Projects.

Sandeep Singh , CEO of Western, stated: "We are extremely pleased to be adding two high quality professionals to the Western team. Both Michael and Jeff bring highly relevant experience and an operational mindset to their positions. Coupled with our strong Yukon based team, they will be integral to advancing the Casino project through the assessment and permitting phase.

I would like to thank Varun Prasad for his 13 years of dedicated service to the Company. Over a short period of overlap, Varun has proven to be a great partner and we wish him the best as he focuses more time on his young family and future endeavours. He will continue in his role for the next two months to assist with the CFO transition."

Mr. Psihogios is an experienced financial executive working with public, private and investment companies in the natural resource industry over the past 20 years. Mr. Psihogios is currently the CFO of Atlas Salt Inc. and will transition roles over the coming months. Previously, he was the CFO of DUMAS Mining, an underground mine builder from 2016 to 2021, where he established the systems and controls for a successful business turnaround and profitable growth strategy. Prior to DUMAS Mining, Michael worked with an international natural resource private equity fund on numerous senior executive, financial and corporate development secondment roles within portfolio companies.

Mr. Eng brings experience across a number of disciplines leading to successful project studies and the development of mining projects. Most recently he was a Project Director for Teck Resources working on the mine life extension for the Red Dog mine, among other projects. Prior, he was Director of Engineering and Interim VP Project Development for Sabina Gold and Silver during the permitting and early execution phases of the Back River project. Mr. Eng spent 13 years with AMEC in several different, and increasingly senior, roles including Site Engineering Manager for the construction of the Mount Milligan mine in BC and lead roles in numerous studies and execution projects ranging from the Jansen potash project in Saskatchewan to Snap Lake Diamond Mine in Northwest Territories .

ABOUT western copper and gold corporation

western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com .

On behalf of the board,

"Sandeep Singh"

Sandeep Singh
Chief Executive Officer
western copper and gold corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding: strengthening the Company's management capabilities to better unlock the value potential of the Casino project, the remaining upside from additional resources or optimizations to the project and the expected closing of the Placement; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-looking statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availability of capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosed throughout this document, and in the AIF and Form 40-F.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

SOURCE western copper and gold corporation

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Prismo Metals Secures Permit Approval for Deep Drilling Program at Hot Breccia Copper Project in Arizona

Prismo Metals Secures Permit Approval for Deep Drilling Program at Hot Breccia Copper Project in Arizona

Prismo Metals Inc. (the "Company") (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) is pleased to announce that it has received permit approval from the Bureau of Land Management ("BLM") for ten drill pads, at the Hot Breccia copper project in Southern Arizona

The drill pads will allow for drilling to test the prospective stratigraphy below the cover volcanic rock over a wide area, and in particular the large conductive anomaly identified by Prismo's 2023 ZTEM survey. Ground mapping, prospecting and sampling conducted earlier this year has supported the targeting process and target selection.

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Romios Announces $150,000 Non-brokered Offering

Romios Announces $150,000 Non-brokered Offering

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to announce that it is proceeding with a non-brokered private placement of up to 15 million shares (the "Shares") priced at $0.01 per Share for up to $150,000 (the "Offering").

Funds will be used for exploration and working capital. All securities issued under the Offering are subject to a four month and one day hold period. The transaction is subject to TSX Venture Exchange approval. No funds from the sale of the Shares will be used for payments to non-arm's length parties or for investor relations activities. The funds from the sale of the Shares will be allocated as to $50,000 to maintain the Company's property in Nevada and the balance for general working capital.

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Canadian Critical Minerals Generates USD$246,000 in Revenue from Bull River Mine

Canadian Critical Minerals Generates USD$246,000 in Revenue from Bull River Mine

Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") is pleased to report record revenues for the Company from the sale of stockpiled copper, gold and silver mineralized material at the Bull River Mine ("BRM") project near Cranbrook, BC. During the month of June 2024, the Company trucked 694 wet metric tonnes ("wmt") of mineralized material to New Afton and the Company received a provisional payment of approximately USD$246,000 for the June 2024 shipments versus approximately USD$103,000 for May 2024 shipments. The mineralized material sent to New Afton graded 4.67% Cu, 0.89 gt Au and 39.5 gt Ag.

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1844 Announces Changes to the Board of Directors

1844 Announces Changes to the Board of Directors

1844 Resources Inc. (TSXV: EFF) (the "Company" or "1844") is pleased to announce the appointment of Mr. Mathieu Olivier to the board of directors effective immediately. Mr. Olivier will replace Mr. Denis Clement, who had been a board member since 2012.

Holding a bachelor's degree in business administration from Laval University, Mr. Olivier has led a 20-year career in wealth management and financial advisory in Quebec and has a strong history of managing investment in the junior natural resources industry. Mr. Olivier has extensive expertise in entrepreneurship and business development and is also involved in various charitable works, including sitting as the Chairman of Directors of Adaptavie Inc.

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FPX Nickel Reports Value Engineering Studies Outlining Improvements in Mineral Processing Facilities and Validating PFS Project Schedule

FPX Nickel Reports Value Engineering Studies Outlining Improvements in Mineral Processing Facilities and Validating PFS Project Schedule

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to provide an update on value engineering (" Value Engineering ") studies focused on the mineral processing and infrastructure facilities for the Baptiste Nickel Project (" Baptiste " or " the Project ") in central British Columbia .  The mineral processing and infrastructure Value Engineering studies have achieved significant value creation through facility optimization, flowsheet refinement, enhanced operability, and improvements to the project build strategy and execution basis.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

Highlights

  • Primary crushing: Changing from a gyratory-type primary crusher to mineral sizers has reduced earthwork and structural quantities, improved Phase 1 operability, and eliminated the need for a second primary crushing circuit in Phase 2
  • Concentrator expansion: A new integrated approach to the Phase 2 expansion has reduced overall quantities, improved Phase 2 operability, and reduced the footprint of process and infrastructure facilities
  • Project phasing: The phased approach and throughput rates in the preliminary feasibility study (" PFS ") have been validated, while acceleration of the Phase 2 expansion improves Baptiste's metal production profile
  • Execution schedule has been confirmed, further validating the PFS's estimated three-year construction duration

"Results from our mineral process and infrastructure Value Engineering studies have added significant value to the Baptiste Nickel Project," commented Andrew Osterloh , the Company's Senior Vice President, Projects & Operations.  "By reducing quantities, improving operating efficiency, and advancing the project execution plan, we have enhanced Baptiste's potential as a long life, large-scale, low-cost, and low-carbon producer of made-in- Canada nickel units. We look forward to advancing additional engineering studies on the mining and refinery aspects of the Project in advance of commencing a feasibility study."

Background

The Baptiste 2023 preliminary feasibility study (" PFS ") demonstrates the potential to develop a high-margin and low-carbon nickel mine producing an average of 59,100 tonnes per year of nickel over a 29-year mine life (see the Company's September 6, 2023 news release).  Due to awaruite's properties, Baptiste has the unparalleled flexibility to produce either a high-grade concentrate (60% nickel) for direct feed into the stainless steel industry (the " Base Case ") or for further refining into battery-grade nickel, cobalt, and copper products for the electric vehicle battery supply chain (the " Refinery Option ").

While the PFS presents robust economics, including a Base Case after-tax NPV 8% of US$2.01 Billion and after-tax IRR of 18.6% at US$8.75 /lb Ni, FPX strives to add further value to Baptiste, focusing on a holistic blend of economics, constructability, operability, risk and ESG considerations.

The key Value Engineering studies pursued by FPX in 2024 are:

  • Mineral processing and infrastructure (described herein)
  • Mine planning and engineering (to be completed in the third quarter of 2024)
  • Refinery planning (to be completed in the third quarter of 2024)

Mineral Processing & Infrastructure Value Engineering Studies

FPX engaged Fluor Canada Ltd. (" Fluor ") and Wood Canada Ltd. (" Wood ") to perform detailed reviews of the 2023 PFS and to conduct mineral process and infrastructure Value Engineering studies.  The consultants identified three primary opportunities to add further value, which are described in greater detail hereunder:

  • Primary crushing: application of mineral sizers
  • Phase 2 concentrator expansion
  • Project phasing

As described below, each of the mineral process and infrastructure Value Engineering studies validated several key tenets from the PFS and added significant project value through reduced quantities, improved operability, reduced process operating costs, and reduced process and infrastructure footprint.

Primary Crushing

The PFS considered a gyratory-type primary crusher.  In re-evaluating the Project's geotechnical and communication datasets, the Company has identified an opportunity to use mineral sizers for primary crushing.  Taking advantage of the modest compressive strength and fractured nature of the Baptiste ore, mineral sizers have added significant value through reduced earthwork and structural quantities, increased operating availability, and the complete elimination of the second primary crushing line for the planned mine expansion from an initial Phase 1 processing throughput of 108,000 tonnes per day (" tpd ") to 162,000 tpd in Year 10 (" Phase 2 ").

Phase 2 Concentrator Expansion

The PFS considered the construction of a standalone processing facility for the Phase 2 expansion from 108,000 tpd to 162,000 tpd.  A new approach to expansion is based on an integrated concentrator approach which entails an expansion of the Phase 1 processing facility rather than the construction of a new standalone facility for Phase 2. This integrated approach results in a reduced process and infrastructure footprint, improved Phase 2 operability, and reduced Phase 2 work force requirements.

Project Phasing

A Value Engineering study re-evaluated the phased approach to processing throughput and compared it with a series of single-build scenarios ranging from 80,000 to 163,000 tpd.  Following this evaluation, the PFS's phased approach has been validated; however, the Phase 2 expansion has been accelerated to Year 6 from Year 10.  This acceleration in metal production is expected to generate improved economics versus the PFS, with the Phase 2 expansion funded from operating free cash flow following the 3.7 year after-tax payback demonstrated in the PFS.

Project Execution

Both Fluor and Wood were assigned further scope to review the PFS's execution basis, including the permanent facility layout, construction sequence, contracting approach, and overall execution schedule. Note that Fluor and Wood jointly executed the detailed engineering and construction management of the nearby Mt. Milligan Mine, which was commissioned in 2013 and is located 80 km east of Baptiste. Mt. Milligan is of comparable size and complexity to Baptiste, which uniquely positions Fluor and Wood to provide relevant context to the Baptiste project execution plan.

Through this additional execution planning effort, numerous scheduling improvements to the PFS were identified, thereby improving the constructability, operability, and maintainability of Baptiste.  In addition, increased focus on allowances for temporary construction facilities has improved execution scope assurance ahead of the environmental assessment  and permitting processes.  Fundamentally, these robust execution planning efforts further de-risk the Baptiste execution schedule, including the PFS assumption of a three-year construction period.

Andrew Osterloh , P.Eng., FPX Nickel's Qualified Person under NI 43-101, has reviewed and approved the technical content of this news release.

About the Decar Nickel District

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  The Baptiste mineral claims cover an area of 408 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia.  In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit.  Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste Deposit is located within the Baptiste Creek watershed, on the traditional territories of the Tl'azt'en Nation and the Binche Whut'en, and within several Tl'azt'enne and Binche Whut'enne keyohs. FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders.

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 distinctive style of awaruite nickel-iron mineralization.  For more information, please view the Company's website at https://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.

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