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Canada Nickel Company Inc V.CNC

Alternate Symbol(s):  CNIKF

Canada Nickel Company Inc. is a Canada-based company, which is engaged in advancing the nickel-sulfide projects to deliver nickel required to feed the electric vehicle and stainless-steel markets. The Company owns flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. The Company also owns 25 additional nickel targets located near the Crawford Project. Its wholly owned NetZero Metals Inc. to develop zero-carbon production of Nickel, Cobalt and Iron and applied for the trademarks NetZero Nickel NetZero Cobalt and NetZero Iron across several jurisdictions.


TSXV:CNC - Post by User

Post by ourrugon Jan 04, 2021 1:34pm
307 Views
Post# 32216251

Canada Nickel Comparisons (by Golgfinger at CEO.ca)

Canada Nickel Comparisons (by Golgfinger at CEO.ca)
Canada Nickel has been oscillating in an increasingly narrow range in recent weeks. I expect we will hear from the company fairly soon. CNC continues to be one of my top 3 holdings by dollar amount. 
 
The comparisons to Dumont are a bit overdone in some ways. Key data valuation event was March 2017 when Waterton acquired 50% of Dumont at a valuation of $C 60 million for 100% of the project.  The July transaction is pretty meaningless – and when you see what real market valuations for transaction look like below – would ask some pretty serious questions of KRR management.
 
Best place for market comps for nickel is Australia – Australia has a number of nickel companies and a retail and institutional investor base that are active nickel investors.
 
Can look at valuations of several companies at the same time Dumont transaction completed in March 2017 and what they are today – ASX best exploration/development comps and some TSX comps below:
 
  • Mincor was $40 million ($0.21 x 188 MM shares) – Market  cap now $480 million  - 12 X increase
  • Poseidon $30 million (3.8 cents x 856 MM) – now $180 million – 6 X increase
 
And a couple from TSX:
 
  • Giga was $5 million – now $34 million – 7X increase
  • Talon was $10 million – now $300 million – 30X increase
 
Using ASX comps with 6-12X increase, Dumont would be valued today at $360-$720 million. 
 
 
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