Impact: Positive
Power Nickel announced that it has entered into an agreement with CVMR Corporation (Private) to fund the feasibility program at the Nisk Ni project in Quebec. Power Nickel has the option to earn up to an 80% interest in Nisk. CVMR is a Toronto-based private metal refining technology provider that is also engaged in mining and refining in 18 countries. CVMR produces various metal products, and it is a world leader in metal powder production. In our opinion, this is a positive development for Power Nickel. This deal brings in not only financing during a challenging market for juniors, but also a strategic investor with significant capabilities in processing and refining metal products, which could favourably impact Nisk project economics. As well, CVMR has its own testing and laboratory facilities, and this could help expedite metallurgical test work for the Nisk project. As things stand, we look forward to an updated Mineral Resource Estimate (Q3/23), a Phase 4 drill program (H2/23) and a Preliminary Economic Assessment (Q4/23-Q1/24).
