Power Metallic Mines Inc.
Doubles High-Grade Nickel Resources/Anticipating a Feasibility Study in Q3
Published: 1/26/2024
Author: Sid Rajeev, B.Tech, CFA, MBA
Sector: Basic Materials | Industry: Other Industrial Metals & Mining
| Metrics | Value |
|---|---|
| Current Price | US $0.22 |
| Fair Value | US $0.41 |
| Risk | 5 |
| 52 Week Range | US $0.18-0.36 |
| Shares O/S (M) | 150 |
| Market Cap. (M) | US $32 |
| Current Yield (%) | n/a |
| P/E (forward) | n/a |
| P/B | 8.3x |
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Report Highlights
Highlights
Power Nickel has completed a resource estimate for its NISK high-grade nickel sulphide project in Quebec. NISK hosts class 1 nickel; the type used in lithium-ion batteries powering electric vehicles/EVs.
PNPN has delineated a medium-sized/high-grade resource totaling 178 Mlbs Nickel Equivalent (NiEq), up 94% compared to a previous resource calculated in 2009. We were pleased with this estimate as it aligns closely with our estimate of 188 Mlbs, per our previous report in July 2023.
Indicated resources account for 70% of total resources, implying a high level of confidence.
The average grade of the new estimate is 1.12% NiEq, which is 6% lower than our estimate of
