Canada Nickel Company Inc V.CNC

Could FNI be the next CNC

[megacopper]

For all you nickel fans out there FNI has made a new discovery in Saskatchewan. I mentioned it to you guys about a month ago when it was 8 cents. It is moving up quickly on news they have made a new nickel discovery in Saskatchewan. Fathom Nickel could become a major nickel company similar to Canada Nickel except on a smaller scale. FNI and CNC are my two favourite nickel plays in Canada right now.

https://m.youtube.com/watch?v=9ds4p5dVRDA

[EndZonefor7]

If it's on a smaller scale then it can't be compared to CNC. FNI has a million and half dollars and declining and over 100 million shares out already (with warrants)at 18 cents. You'd be at 300 million shares out to be compared to CNC's drilling, PEA, resource report, strategic alliance with Anglo and $50 million in the bank and a FS in the next couple of months. Please pump

[N3tPr0phet]

$50M in the bank is an embellishment.  They were virtually tapped, raised $44M, andd immediately used $13M to pay off Auramet.  Throw in the Textmont closing and some opex since, and I'd be surprised if it was $30M in reserves. 

[Seahawk001]

It was possibly you mega that i first caught wind of Fathom, up 123% in one account and 24% in another....thank ya :) 

[megacopper]

You are welcome. The best is yet to come for FNI based on my sources. I feel FNI can eventually end up being a significant nickel company similar to CNC. Great geology on their properties with excellent historical nickel values along with high PGE's. Good luck with your investments. 

[N3tPr0phet]

Nothing about this aged well.  CNC just released Financial Statements for the same month this comment was made, showing $11M total working capital, in stark contrast to $50M cash claimed here.  Not to mention the FS timing.  What comes first, feasibility or Selby dropping his drawers and bending over the barrel again for his regularly scheduled Auramet loan? GLTA

[smallcap1967]

Do almost all of these properties come from Noble?

[apapas1973]

Some are SmallCap. Macdiarmid, Mann kingsbee/Mabee and can't remember which others. It shouldn't be a surprise because Noble spun them off. It's a little complicated SmallCap. And I'm not happy with this. They need to clean this up.  Noble spunoff/created CNC. CNC acquired Crawford from spruce ridge resources. Both noble and spruce owned majority stakes way back. Today nob has

[CravingProfits]

Appapas...and Mark S. Was on the Noble board of directors.  If that means anything. ?  Glta

[EndZonefor7]

Less cash than I expected but if you're confident you're going to land an OEM deal and possible Canadian and US governments for hundreds of millions then its a nothingburger.   At least the cash was well spent on an FS, CC report plus discoveries of possibly 10 or more new Crawfords plus Texmont mine on top of permitting etc.  Meanwhile FPX drills 10 holes a year while CNC does

[EndZonefor7]

Nothing wrong with spin offs. Noble was acting as a project generator and keeps a cut. Many of these companies out there that keep the mining business going that don't have the clout to raise big cash. SHL is another story I'm not familiar with but I thought was cleaning itself up. 

[apapas1973]

Yes Endzone nothing wrong with it but they need to clean it up. I've commented on this a couple times in the past. It started off ok with me but now starting to sit like a thorn in my side. CNC is obviously going to be the dominant company and more than 50% of the market value of nob/shl using today's numbers, is from their CNC holdings. That's ridiculous. If there's any property

[apapas1973]

If CNC doesn't buy NOB and SHL and retain those cnc shares then someone else may and instantly gain approx 5% of CNC ownership. 

[EndZonefor7]

Yes good point apapas. Would not be good to see an outsider control those shares but would be surprised for it to actually happen. Not a fan of CNC taking them out. Too many other properties that need expensive work and we enough on our plate with 18 plus properties. 

[apapas1973]

I agree Endzone. We could never do it in our current financial position. If govt money or an offtake could eventually come in, then we'll talk. I still think they need to consider EVNI. Grades are basically the same as ours and it comes with an expanding high grade zone right in our backyard. As long as recoveries are on par.  Their land package is approx half the size of ours, so far

[EndZonefor7]

 I see $14 million cash and cash equivalents but I'm no accountant.  Incase you're wondering where all the cash goes. Exploration and evaluation expenditures   Exploration and evaluation expenditures include costs related to exploration at Crawford and its regional properties, feasibility study and permitting. Approximately $11 million was spent in relation to

[N3tPr0phet]

$14.8M cash and equivalents $1.9M receivable and prepaid expenses <$4.8M> payable <$0.9M> share premium liability =$11.0M working capital Now consider that: (1) It's unlikely that the FS has already been paid in full if it's going to be delivered in September. (2) They still need to pay for a PEA at Texmont. (3) It's prime drilling season and the company is dead-set on

[CEOofEPO]

Someone's gotta pay for those Cruz interviews 

[EndZonefor7]

Maybe you should short it since you know all the inner workings. FPX will still be a hole in the ground fighting the BC greenies when CNC is producing hundreds of millions of dollars per year.

[CanadianPatriot]

You missed the promotional budget of 1 million dollars.  Endzone do you remember what that hedge fund manager tweeted about this expenditure?   Do think this impacts the perception of potential investors?  Why such a high promotional budget?   By the way how much do you get paid?  You alluded to company connections and knowledge of who applies to the company

[smallcap1967]

Thanks for your answer I appreciate it. Do you know who they bought Textmont from?