SPC Nickel Corp.
Delineates a Large Open-Pittable Nickel Resource
Published: 1/31/2024
Author: Sid Rajeev, B.Tech, CFA, MBA
Sector: Basic Materials | Industry: Other Industrial Metals & Mining
Ticker Symbols:SPC.V - NEO 🔹SPCNF - NASDAQ 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | US $0.04 |
| Fair Value | US $0.33 |
| Risk | 5 |
| 52 Week Range | US $0.045 |
| Shares O/S (M) | 0.135 |
| Market Cap. (M) | US $7 |
| Current Yield (%) | n/a |
| P/E (forward) | n/a |
| P/B | 4.9x |
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Report Highlights
Highlights
SPC has completed a maiden resource estimate for its West Graham Deposit (WGD) within the Lockerby East project in Sudbury, Ontario.
SPC has confirmed and expanded historic resources, with contained NiEq increasing by 31% (329 Mlbs to 430 Mlbs), and the average grade rising by 28% (0.54% to 0.70%).
91% of resources are open-pittable, implying potential for relatively low OPEX/CAPEX. We view WGD as a large-tonnage deposit, with attractive grades for potential open-pit operations.
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