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Vancouver, British Columbia TheNewswire - June 19, 2023 Xander Resources Inc. ("Xander" or the "Company") (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce the results of its annual general and special meeting (the " Meeting ") held on June 16, 2023. All resolutions presented to the shareholders were approved, as a result:
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Xander Resources Inc. ("Xander" or the "Company") (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce the appointment of Deepak Varshney, the Company's current President and CEO, as Corporate Secretary of the Company, and Khalid Naeem as CFO of the Company, effective May 1, 2023
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Xander Resources Inc. ("Xander" or the "Company") (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce that the Company has completed two shares for debt settlements that were previously announced on March 16, 2023 (the " Shares for Debt Settlements "), after being granted approval by the TSX Venture Exchange (" TSXV "). The outstanding debt was owed to consultants of the Company as part of their severance packages
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Vancouver, British Columbia TheNewswire - March 20, 2023 Xander Resources Inc. ("Xander" or the "Company") (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to announce that it has completed the second phase of its fully financed drill program at its Timmins Nickel Project (the " Property ") located in Timmins, Ontario.
The drill program comprised 1,559 metres across six (6) drill holes and continued Xander's strategy of targeting geophysical anomalies on its claims that are on trend and/or adjacent to properties where Canada Nickel Company (CNC) has identified significant nickel mineralization.
Three (3) holes, NKV23-1, NKV23-2, and NKV23-3, targeted the northern part of the Company's "North Block" on claims along trend with CNC's Mahaffy and Nesbitt properties. Both properties have been drilled by CNC, with the first two drill holes at Nesbitt returning significant intersections of mineralization with intervals of visible disseminated sulphides consistent with the Higher Grade Zone at CNC's Crawford Project where a preliminary economic assessment indicates a 25-year mine with an after-tax NPV (net present value) with 8-per-cent discount rate of $1.2-billion ( https://bit.ly/3YMsYFi , https://bit.ly/3E3b3CB ).
Three (3) holes, NKV23-4, NKV23-5, and NKV23-6, were drilled in the Company's "South Block" of claims that are adjacent to CNC's MacDiarmid Project where CNC announced its second major discovery in the Timmins Camp with a target that is approximately 15% larger than Canada Nickel's original Crawford's Main Zone discovery ( https://bit.ly/3RVjMfI ).
Ultramafics comprising komatiitic flows, gabbro and/or peridotite were intersected in five (5) of the six (6) drill holes. Notable intercepts include:
Drill Hole | Rock Type | Interval Length (metres | Interval Range (metres) |
NKV23-02 | Komatiite | 42.1 | 189.1 – 231.5 |
Komatiite | 18.8 | 240.0 – 258.8 | |
NKV23-03 | Komatiite | 87.0 | 186.0 – 273.0 |
NKV23-04 | Komatiite | 54.5 | 54.0 – 108.5 |
Komatiite | 38.4 | 111.5 – 149.9 | |
Peridotite/Gabbro | 76.8 | 178.2 – 255.0 | |
NKV23-05 | Peridotite/Gabbro | 201.6 | 50.4 – 252.0 |
NKV23-06 | Komatiite | 22.0 | 214.7 – 236.7 |
Peridotite | 22.8 | 236.7 – 259.5 |
The assay results from the second phase drill program will be released following their receipt, compilation and interpretation.
Click Image To View Full Size
Figure 1 - Location of drill holes comprising the second phase of Xander's maiden drill program.
The Timmins Nickel Project
The Timmins Nickel Project consists of two (2) separate mineral claim blocks (as shown in Figure 2 below) and is located within the Timmins mining camp in Ontario, Canada, a highly prolific mining complex with over 100 hundred years of history and well supported by major infrastructure including highways, rail, and relatively inexpensive hydroelectric power.
The "North Block" consists of 336 claims located approximately 21 kilometres west of Canada Nickel Company's (CNC's) Crawford Project where CNC has completed a preliminary economic assessment only 20 months after the commencement of exploration drilling that indicates 25-year mine with an after-tax NPV 8% of $1.2 billion i . It is also situated southwest of Kingsmill, Mahaffy-Aubin, and Nesbitt North, properties acquired from Noble Mineral Exploration by Canada Nickel through option agreements earlier in 2021 ii and adjacent to CNC's recently identified Reid Discovery which has already through early exploration delineated a mineralized footprint 90% as large as Crawford.
The "South Block" consists of 50 claims contiguous to Canada Nickel's MacDiarmid Project where in May 2021, Canada Nickel announced a secondary discovery through the identification of significant intersections of mineralized dunite similar to the average mineralization initially discovered at Crawford. Geophysical surveys reveal that the MacDiarmid target to be approximately 1.8 kilometres long indicating a structural footprint averaging 400 meters in width – 15% larger than Canada Nickel's original Crawford's Main Zone discovery iii .
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Figure 2 - Location of Xander's Claims in the Timmins Camp
Qualified Person
The technical content of this news release has been reviewed and approved by Mr. Andrew Tims, P.Geo., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (" NI 43-101 ").
About Xander Resources Inc.
Xander Resources Inc. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada focused on developing accretive gold and battery metal properties within Canada. The company currently has a focus on projects located within the Provinces of Ontario and Quebec.
Xander is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Val-d'Or, Quebec, including the Senneville Claim Group which comprises over 100 sq. km and is contiguous in the south to Probe Metals' new discovery, and contiguous in the north to Monarch Mining, in close proximity to Eldorado Gold's (formerly QMX Gold) projects, and east of the North American Lithium Deposit, Great Thunder Gold‘s Chubb Lithium property and East of the Sayona Quebec's Authier Lithium Deposit, all in the Val-d'Or Mining Camp, plus its newly acquired nickel-sulphide project in Timmins, Ontario near Canada Nickel's MacDiarmid and Crawford Projects.
We seek Safe Harbor
ON BEHALF OF THE BOARD OF DIRECTORS
Deepak Varshney, P.Geo., President and CEO
For more information, please email ir@xanderresources.ca , or visit www.xanderresources.ca .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
i Preliminary Economic Assessment, titled "Crawford Nickel-Sulphide Project National Instrument 43-101 Technical Report and Preliminary Economic Assessment", Effective Date of May 21, 2021
ii https://canadanickel.com/wp-content/uploads/2021/04/20210422-Canada-Nickel-Acquires-Option-Properties-final.pdf
iii https://canadanickel.com/wp-content/uploads/2021/10/2021-10-26-East-Zone-High-Grade-vFinal2.pdf
Copyright (c) 2023 TheNewswire - All rights reserved.
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Xander Resources Inc. ("Xander" or the "Company") (TSXV:XND) (OTC:XNDRF) (FSX:1XI), a North American mineral acquisition and exploration company focused on the development of drill-ready battery and precious metal projects, is pleased to announce that it has entered into agreements to settle $77,357 of indebtedness by the issuance of 2,210,198 common shares of the Company at $0.035 per share. The outstanding debt was owed to two former officers andor directors of the Company as part of their severance packages. The settlements are subject to acceptance of the TSX Venture Exchange. All shares to be issued pursuant to the settlements will be subject to the applicable statutory, exchange and regulatory hold period of four months and any other required resale restrictions. The shares to be issued have not and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws
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Nickel price, January 2 to April 22, 2025.
Chart via Trading Economics.
While nickel has trended down for the past year, 2025 began with upward momentum. It opened the year at US$15,040 on January 2 and rose to US$16,080 before declining to close out the month at US$15,230.
Nickel prices started to gain briefly at the beginning of February, increasing to US$15,875 on February 6 before experiencing volatility until the end of the month, finishing at US$15,590 on February 28.
The start of March saw upward movement, and nickel hit a year-to-date high of US$16,720 on March 12.
Prices for the base metal remained above the US$16,000 mark until the end of March, when substantial pressures caused levels to plunge to US$14,150 on April 8.
Over the past several years, oversupply has presented a significant headwind for nickel prices.
Due to heavy investment from China, Indonesia has emerged as the world's dominant nickel supplier. However, even though its refined output has remained high, Indonesia has faced a tight nickel ore market because of reduced quotas, which have compelled smelters to import record volumes from the Philippines.
A recent Filipino government proposal to follow Indonesia’s lead in banning exports of raw nickel products could disrupt the situation and introduce further challenges for refiners, impacting global supply chains.
The proposal arose amid rumors of higher mining royalties that have circulated since the start of the year. This speculation boosted nickel prices as higher production costs started to be factored into prices.
The royalty hikes were approved on April 11, and will raise the current 10 percent rate to between 14 and 19 percent, depending on the nickel price. Lower-quality nickel mattes used in battery production will incur a 2 percent royalty.
Jason Sappor, senior analyst for metals and mining research at data provider S&P Global Commodity Insights, noted that the increase will pose another challenge for the industry.
“The hike in royalty tax rates on nickel products by Indonesia’s government represents another headwind for domestic nickel producers already under pressure from rising production costs due to elevated nickel ore prices stemming from tight ore availability,” he said in comments to the Investing News Network (INN).
Indonesian nickel miners previously asked the government to reconsider the change.
In a letter to government officials, industry stakeholders stated that the increases to mining royalty levels in the country are “unrealistic and do not reflect the current state of the industry.”
Another factor that impacted the nickel industry during the first quarter of the year was the threat and eventual implementation of US tariffs against China, the world’s largest consumer of nickel.
Ewa Manthy, commodities strategist with ING, suggested tariffs will further impact a beleaguered nickel market.
“London Metal Exchange (LME) nickel has been mostly rangebound amid heightened trade tensions," she said.
"We expect US trade tariffs will put pressure on manufacturing activity in China, the world’s largest primary nickel consumer," Manthey explained to INN. "This would put additional pressure on LME nickel prices, already weighed down by oversupply, rising exchange stocks and bearish investor sentiments."
Manthy’s prediction has held true so far, with nickel prices plummeting 11.5 percent in the week following US President Donald Trump’s tariff announcement on April 2. The move has sparked fears among investors who worry that the escalating trade war will push the world into a global recession.
Even though nickel rebounded after Trump put a pause on larger reciprocal tariffs, there is still a high level of uncertainty regarding nickel demand, especially as the effective tariff rates on China have grown to 145 percent.
Tariffs are unlikely to affect nickel supply in the short term; however, they could significantly impact demand. The effects will be more pronounced in the US, as tariffs will more than double the costs of goods from China for importers.
The primary destination for nickel is the production of stainless steel.
While long-term global demand is expected to remain robust, with refined nickel projected to see a 4.6 percent compound annual growth rate between 2023 and 2035, there are more immediate headwinds.
Demand for stainless steel in China’s housing sector and slower growth in home appliances has dragged down overall nickel demand in the Asian nation. Although the overall effects could be worse, government policy and stimulus have only provided marginal support. Chinese stainless steel markets were also affected as new carbon tariffs and anti-dumping duties from Europe’s carbon border adjustment mechanism came into effect.
This has led analysts to predict another year of surpluses in China’s stainless steel market, with production increasing by 10.6 percent year-on-year in the first quarter and March output coming to 3.58 million metric tons. Even so, stockpiles stand at 155,000 metric tons, down significantly from 333,000 metric tons in Q1 2024.
The size of the stainless steel market may help moderate a decline in demand from the electric vehicle battery market, which is another significant destination for nickel. According to an April 14 report from S&P Global, the fall in battery demand comes despite growing demand for electric vehicles in both China and Europe; this has been attributed to producers transitioning to nickel-free battery chemistries, particularly lithium-iron-phosphate.
Producers see a greater cost advantage in this composition, and the switch has caused demand for nickel-manganese-cobalt batteries to shrink by 19 percent from January to February.
Due to this fallout, battery precursor producer CNGR Advanced Material (SZSE:300919) said it would be pausing investment in its South Korean nickel smelting project.
The battery sector represented 11.5 percent of total nickel demand in 2024.
The short term for nickel could very well hinge on how Trump’s tariffs affect the global economy.
“A slowdown in global economic activity would have a detrimental impact on China’s exports of nickel-containing consumer goods, denting global primary nickel demand in a market already grappling with oversupply due to expanding production in top primary nickel producers Indonesia and China,” Sappor said.
He added that weaker fundamentals will likely increase bearishness in the nickel market and ultimately work to further depress prices for the base metal on the LME.
“Considering these potential dynamics as well as further evolutions in the Trump administration’s trade tariff policies, we expect nickel prices to remain volatile in the near term,” Sappor stated.
Manthy is also pessimistic about a market turnaround in the near to medium term.
“The main downside risk to our supply and demand outlook is further downgrades to nickel demand from the electric vehicle sector, but this could be offset by no growth in Indonesian supply. The medium-term supply and demand balance is not supportive of a significant rise in nickel prices,” she said.
For investors, a bear market might provide opportunities, but the risk is that nickel prices may still have a ways to go before they bottom out. The next quarter could offer more certainty in global financial markets.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
As FPX Nickel strengthens its position in the critical metals space, it offers investors a compelling opportunity in the green energy transition, with the potential to be a low-cost, environmentally responsible nickel producer in a stable jurisdiction.
FPX Nickel (TSXV:FPX,OTCQB:FPOCF) is advancing its Baptiste Nickel Project in central British Columbia, targeting high-margin, long-life, low-carbon nickel production. The project offers flexibility to produce either a high-grade concentrate (60 percent nickel) for direct use in stainless steel or further refine it into battery-grade nickel sulphate, cobalt precipitate, and copper concentrate for the electric vehicle (EV) battery supply chain.
Nickel is critical to EV battery production, with demand expected to grow at 5.1 percent annually through 2035, outpacing projected supply growth of 4.6 percent. With analysts forecasting a long-term supply gap due to declining output and limited new projects, FPX Nickel provides investors with exposure to a high-growth, low-carbon market with strong economic upside.
The 2023 Preliminary Feasibility Study (PFS) for Baptiste estimates an after-tax Net Present Value (NPV) of $2.01 billion and an Internal Rate of Return (IRR) of 18.6 percent, based on a 29-year mine life and an average annual production of 59,100 tonnes of nickel.
Baptiste’s awaruite mineralization enables a more efficient three-stage process for producing nickel sulphate, achieving over 98 percent nickel extraction in 60 minutes with lower operational costs and environmental impact compared to traditional methods. The company has published the results of its Awaruite Refinery Scoping Study, indicating strong economics with after-tax NPV (8 percent) of $445 million and IRR of 20 percent at $8.50 /lb nickel.
FPX Nickel is committed to carbon neutrality at Baptiste. The company co-founded a research program on carbon capture and storage (CCS) with Anglo-American’s DeBeers and the Government of Canada. Its subsidiary, CO2 Lock, has also achieved a breakthrough in CO2 mineralization technology at its SAM site in central British Columbia.
In January 2024, FPX Nickel secured a C$14.4 million strategic investment from Sumitomo Metal Mining to advance exploration, development, and environmental activities at Baptiste.
The company’s management team, led by Canadian Mining Hall of Fame member Dr. Peter Bradshaw and veteran geologist Rob Pease, brings a wealth of expertise to the project.
FPX Nickel’s 100 percent-owned Decar Nickel District spans over 410 square kilometers in central British Columbia, approximately 80 kilometers west of the Mt. Milligan mine. The district is home to the Baptiste project — one of the world’s largest undeveloped nickel deposits — with excellent infrastructure access, including paved and logging roads, rail, and nearby hydropower.
The Baptiste deposit contains nickel-iron alloy mineralization, hosting NI 43-101 compliant indicated resources of 2.3 billion tonnes at an average grade of 0.123 percent DTR nickel, and an additional 391 million tonnes of inferred resources at 0.115 percent DTR nickel.
In 2022, FPX completed a 2,504-meter step-out drill program at the Van target, located 6 km north of Baptiste, significantly expanding the known mineralization footprint and confirming large-scale nickel potential across the broader Decar District.
The 2023 PFS outlined a phased development plan for Baptiste, with initial mill throughput of 108,000 tonnes per day in Phase 1, expanding to 162,000 tonnes per day in Phase 2. The project is expected to produce an average of 59,100 tonnes of nickel per year over a 29-year mine life, with a projected after-tax NPV of US$2.01 billion and an IRR of 18.6 percent at a nickel price of US$8.75/lb.
The Baptiste project is positioned as a future low-cost, low-carbon source of nickel suitable for stainless steel and battery markets. A simplified three-stage hydrometallurgical process using awaruite mineralization enables efficient production of high-grade nickel sulphate with recovery rates over 98 percent, while significantly reducing power, pressure, and reagent needs compared to traditional HPAL methods.
In March 2025, FPX Nickel published the results of its Awaruite Refinery Scoping Study, outlining plans for North America’s largest nickel sulphate refinery. The proposed facility aims to produce 32,000 tonnes per year of battery-grade nickel sulphate, along with by-products including cobalt carbonate, copper cement, and ammonium sulphate.
Highlights of the study include:
Path of Awaruite nickel units from mine to EV battery
The study further highlights the opportunity to develop an integrated, low-cost, low-carbon mine-to-battery solution in Canada, with awaruite concentrate as a strategic feedstock for domestic and allied EV battery markets.
FPX also signed a non-binding MOU with JOGMEC and Prime Planet Energy & Solutions (a JV between Toyota and Panasonic) to explore collaboration on integrating Baptiste’s production with downstream processing for EV battery materials.
Martin Turenne is a seasoned executive with over 15 years in the commodities sector, including significant leadership experience in mining. His expertise spans strategic management, capital markets, financial reporting, and regulatory compliance. He previously served as CFO of First Point Minerals and held roles at KPMG LLP and Methanex Corporation. Turenne is a Chartered Professional Accountant (CPA) and a member of the Canadian Institute of Chartered Accountants.
Andrew Osterloh brings over two decades of experience in process engineering, metallurgy, and project management. Formerly a project director at Fluor Canada, he led feasibility studies for major base metal projects across the Americas, including work for Glencore, Teck, Newmont, and Freeport-McMoRan. He holds a BASc in Mineral Process Engineering from UBC and is a member of the Association of Professional Engineers of British Columbia.
Tim Bekhuys is a mining sustainability expert with 40+ years of experience in environmental permitting, community engagement, and ESG leadership. He was VP of sustainability at SSR Mining and held senior roles at New Gold, successfully advancing projects like the Blackwater gold project. He has served on the boards of AME BC, the Mining Association of BC, and the Mining Association of Canada.
Felicia de la Paz is a CPA with deep expertise in corporate finance and systems implementation. She started her career at KPMG, rising to senior manager, before joining Equinox Gold as corporate controller, where she led post-acquisition financial integration. She later served as VP of finance at Vida Carbon and now advises public mining companies on financial and operational systems. She holds a Bachelor of Commerce (Honours) from UBC.
Dr. Peter Bradshaw is a renowned geologist with over 45 years of global mineral exploration experience and a member of the Canadian Mining Hall of Fame. He has played key roles in several major discoveries, including the Porgera, Kidston, and Misima gold mines, and co-founded the UBC Mineral Deposit Research Unit. Bradshaw’s past roles include senior positions at Barringer Research, Placer Dome, and Orvana Minerals.
Peter Marshall is a mining engineer with 30 years of experience in mine development. Formerly VP of project development at New Gold and SVP at Terrane Metals, he played key roles in major BC projects including the feasibility and early construction of the Mt. Milligan copper-gold mine and the Blackwater gold project.
Anne Currie is a leading expert in mining permitting and regulatory processes in Canada, with more than 30 years of private and public sector experience. She was BC’s chief gold commissioner and a senior partner at Environmental Resources Management. Currie has guided permitting for major projects including KSM, Brucejack, Kemess Underground, and Blackwater.
James Gilbert has over 30 years of experience in investment banking and corporate strategy, with two decades focused on mining and metals. He has held senior roles at Rothschild, Gerald Metals, and Minera S.A., and has deep expertise in M&A, project finance, off-take agreements, and strategic marketing. He was a director of AQM Copper, acquired by Teck in 2016.
Kim Baird is a strategic advisor with deep experience in Indigenous relations, governance, and treaty implementation. As former elected Chief of the Tsawwassen First Nation, she negotiated and implemented BC’s first urban treaty, securing land and resource governance for her community. She now advises governments, businesses, and Indigenous groups across Canada.
Rob Pease is a geologist with more than 30 years in exploration, mine development, and corporate leadership. He was CEO of Terrane Metals and a director of Richfield Ventures—both acquired for over C$500 million. He currently serves on the boards of Pure Gold Mining and Liberty Gold.
