Canada Nickel Company Inc V.CNC

Canada Nickel Confirms Major Discovery at Reid

[EndZonefor7]

Highlights

• All 16 holes at Reid intersected multi-hundred metre intervals of mineralization
  with 6 holes in Central Core Area intersecting higher grades
• Holes REI22-14 and REI22-16 confirm mineralization of over 500 metres width – approximately 50% wider than Crawford Main Zone and more than 100% wider than Crawford East Zone
• Reid geophysical target footprint of 3.9 km², is more than two times larger than
  the 1.6 km² footprint of the flagship Crawford Nickel Project resource

TORONTO, Jan. 18, 2023 /CNW/ - Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) today announced an exploration update for its Reid Property located within 16 km of the Crawford Nickel discovery which has now been successfully targeted by all 16 drillholes.

Mark Selby, Chair & CEO of Canada Nickel Company, said "Today's results confirm Reid as a major discovery with a target footprint larger than our flagship Crawford discovery and a mineralized core that is 50% wider than our Crawford Main Zone. Grades and mineralization are consistent with what the Company has observed at the Company's East Zone deposit. The success of this initial drilling, targeted solely with our team's proprietary approach using provincial geophysical data, highlights the significant potential of our total regional land package with over 42 km² of target geophysical footprint which is more than 20 times larger than our flagship Crawford project."

Mr. Selby continued "I am also pleased that we are extending repayment of our loan with Auramet to March 3, 2023, utilizing 45 days of the 90 day extension right that we had as part of the original loan agreement which allows us to advance various financing initiatives, which we expect to complete during this timeframe."


https://ceo.ca/@newswire/canada-nickel-confirms-major-discovery-at-reid-provides

[EndZonefor7]

Awesome news ! Reid is going to be a monster as we suspected. More than double Crawford for starters.   Still have Texmont and Sothman high grade numbers to come. Financing extension due to bigger deal in the works by the looks of it. Great work Mark and team ! 

[Clearskye]

Have you not heard or read about the macro developments regarding projected over supply of nickel as early stage comp[anies come on line? Where have you been?

[NoobTube]

Yes I have heared about the Chinese that are going to convert copper smelters into nickel smelters and that's fantastic for them but it will not change North American stance on critical minerals and wanting to avoid Chinese dependence.  It also doesn't alleviate any esg concerns with Indo/Pacific production or the tax credits avaiable in NA for NA production which will act as more of

[NoobTube]

These moves are akin to OPEC controls on supply/demand to regulate industry expansion and growth.  NA has had enough of foreign entities controlling a lynchpin of their economies, transportation.  NA governments will not allow foreign control again and this energy transition is a generational opportunity to fix the mistakes of the past 50 years.  This doesn't even included the

[EndZonefor7]

Exactly Noob. NA nickel will come at a premium as China cr@p pollutes their market and punishes any foreign EV/ battery makers.    Fear mongering is a waste of troll efforts but what's new. Vale doesn't give it a second thought with their new $2.5 billion base metal entity.

[NoobTube]

I believe Vale Base Metals expects $25B eval and the $2.5B figure was for a 10% stake.  Could be wrong.

[EndZonefor7]

That's right Noob, I missed that important point. Still early, more coffee. :) 

[teppo10]

I can see why investors may be selling out here. When this New Major Discovery was announced this morning the first thing that came to my mind was that they will shortly announce that the feasibility study will be pushed back to October now to allow this latest discovery to be added. I am getting rather tired of this practice. If we truly have a major discovery at Crawford that rivals those around

[Clearskye]

With penny plays when speculating on questions I find that usually the simplest answer is the right one.  I don't hink Crawford is a viable property.  Otherwise as a CEO why not sell and move on to another venture.  Instead the narrative was that high yield deposits are not really important as nickel pricess will go through the roof and it will be irrelevant.  We heard

[Clearskye]

LOL are you kidding me?  Again where have you been?  Our oil and natural gas leads the world from an enviromentally safe perspective.  Didn't increase demand for it as the dirty cheaper oil and gas keeps flowing from Russia.

[PCGuy10]

Germany and Japan asked Trudope for Canadian Natural Gas. What did Trudope give them? A lecture on how burning ANY CARBON is bad!

[EndZonefor7]

Not to defend JT but how was Canada supposed to get large LNG to Germany on short notice ? Canisters ?  It was obvious back in August their gas supply storage was on it's way to filling up to 90%:  "Germany’s natural gas storage facilities surpassed a fill level of more than 75% this month, two weeks ahead of schedule, as Europe’s largest economy scrambles to prepare for the

[PCGuy10]

Germany I can understand but Japan was looking longer term and JT said No! Stupid Twit!

[CravingProfits]

PCGuy, I understand your JT frustrations but we can not strive foe a reduction in Co2 and then turn around and sell the problem to other countries to burn as needed. The same applies to Nort American petroleums or coal. It is a moral and life altering issue and very complicated. So please ask others for their opinions as I am not smart enough to argue the point made.. lol Also, I am too old to

[PCGuy10]

CravingProfits, on the contrary, JT has surrounded himself with the same eco warriors who promised to make Ontario a Green Energy Power House. They failed miserably. There are various fuels with different levels of CO2 ranging from Coal on one end to Natural Gas on the other. Some people have said a Honda Civic running CNG makes a Toyota Prius Gas/Hybrid look like a Hummer with regards to

[PCGuy10]

Also speaking of Japan Nuclear is out because of Fukishima, which leaves what exactly for a stable baseload of electricity. Getting back to Fukishima I was watching the Netfix series Chernobyl and there were some suprising similarities. Chernobyl was caused by a botched safety test which was for whatever reason never properly signed off on or the plant couldn't have been turned on. The whole

[EndZonefor7]

Kitimat is just finishing it's LNG plant and it's only taken 10 years. A report last summer said the same thing. The war will be long over, Putin will be dead/gone by the time they build the next plant/ships that could solely supply them and the gas will flow again. Why did they cancel so many LNG plants plans a few years back ? Cause the oil companies knew they were massive money losers.

[Clearskye]

More fallacies.  Why do you make stuff up like this?  Instead of hyper posting the lastest CNC narrative which have been nothing but false for the last three years why not do some reading? https://www.fraserinstitute.org/article/canadas-lost-lng-opportunities-due-to-dearth-of-export-facilities#:~:text=Unfortunately%2C%20despite%20being%20the%20world%27s,regulatory%20barriers%20and

[Clearskye]

Modular Nuclear Reactors do not have those risks.

[Clearskye]

And our GDP took a nasty hit. No wonder OECD projects Canada dead last in GDP growth over the next 30 years too many opportunities like this one passed up as he is more interested in photo opping new spending hand outs for his base. People that love Trudeau are ones that are on some type of government assistance and can afford to hyper post on the internet all day in my opinion.

[CEOofEPO]

Disagree. People that love.trudeau are rich people who enjoy housing bubble 

[Clearskye]

How would they build the LNG infrastructure?!?!?!  Again where have you been? Germany took 194 days to build this.  The war itself was on for a longer period of time. Trudeau red taped the LNG infrastructure that has been ongoing for seven years!!!!  Seven years vs 194 days. 

[Clearskye]

Here is the link.  194 days to build it. https://www.euractiv.com/section/energy/news/germany-inaugurates-first-new-lng-terminal/

[Clearskye]

Wasn't talking to your pseudo name.  Ooops you logged into the wrong account!

[CravingProfits]

Have you not heard of dirty Nickel ? Let`s keep our {clear skies} for as long as possible  lol Happy to see no new PP for millions of shares at $1.50 like many Juniors often do. GLTA ------------------------------------------------------------------------------------------------------------------------------------ ClearSkye asked......Have you not heard or read about the macro developments

[EndZonefor7]

Also Craving, you think the Chinese will shoot themselves in the head and kill the price when their whole purpose is to take advantage of the high prices on premium nickel ? Not bloody likely.  "People familiar with the matter told Bloomberg Guangda was planning a shift in his production mix, looking to profit from an unusually large premium in the price of refined nickel metal."

[NoobTube]

Exactly,  mor likely scenario is he has large short positions again.

[Clearskye]

Pull up the short position. 

[apapas1973]

Yes Endzone. Also they didn't increase the size of the loan through Auramet, as I was worried they might do. Being we're going to be in need of cash soon, I'm hoping Mark is confident enough an injection of cash is coming in from somewhere. GLTA

[PCGuy10]

If this is such wonderfull news, then the market didn't get the memo!  Apapas, last week you said there where 2 things you didn't want to see - an 11th hour press release, and an extention of the loan, because any one of those two would put us in the penalty box and get ravaged in the market! Now you are ok that he only extended the loan. Well both have occured and as expected the

[teppo10]

I don't think either of you should have to eat it. I think Mark Selby deserves the whole pie himself!

[JStrummer66]

It's all good.  CNC keeps advancing multiple large projects without diluting the share base.  Total shares of around 110 - 115 million, not 500 million.  I think Mark has done an excellent job of managing things.  The short term players may not like it but a short loan extension is perfectly fine compared to  issuing shares at these prices.  As long as the big

[EndZonefor7]

Disappointing market reaction but loan extended only half the 90 days he could have taken. Obvious he has deals waiting in the wings with Texmont and Sothman IMHO. Said he had multiple parties interested. Next high grade drill results from Texmont will tell the tale. 

[PCGuy10]

Not a bad idea actually. We should make a crow pie and deliver it to the PDAC booth!

[apapas1973]

Lol Pcguy. Well if that was the deal, then I guess I'm eating the crow pie as well. Im actually not ok with today's announcement. The only thing Im ok with is the fact that he didn't increase the loan. I actually thought that was coming, being we're going to need cash soon. At this point I would say Mark has left us very vulnerable. As much as people don't care for technicals

[Cobalt]

Scary corection just started , 18 vix said sell stocks been the play for last 18 months

[PCGuy10]

Thanks for your insight. This is not so much a long term investment than a short term candlestick opportunity game! I've warned in the past that some bullish patterns had emerged, These short sellers and algo traders seem to catch onto them and make it a self fulfulling prophecy. Much more than the bullish patterns. There was a bottom triangle with a 2.20+ target. It seems quite odd that it