Canada Nickel (TSXV: CNC) has continued to advance its Crawford Nickel Sulphide project towards development. The firm this morning indicated it submitted an impact statement with the Impact Assessment Agency of Canada on November 22.
The filing, which was prepared by Stantec, is said to set the company up for a construction decision on the project in 2025. A feasibility study released on the project last year outlined an after-tax net present value (8% discount) of $2.5 billion, along with an IRR of 18.3% based on average annual nickel production of 83 million pounds over a 41 year mine life.
“We’ve gone from the fifth drillhole in September 2019 to become the first mining project in Canada to file an Impact Statement under the 2019 Impact Assessment Act. The ability to achieve this milestone in just over five years also reflects the federal government’s commitment to timely and efficient permitting processes and effective engagement with proponents. It’s a major step forward as we advance Crawford – projected to be one of the world’s largest and most sustainable nickel sulphide projects – towards production,” commented Canada Nickel CEO Mark Selby on the achievement.
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The filing is said to have included baseline environmental and socio-economic studies that the company has been conducting since 2021 in an effort to move the project forward. Moving forward, Canada Nickel will now need to conduct Indigenous and public consultations under the impact assessment process.
Canada Nickel last traded at $0.98 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
