Source: Victory Nickel Inc. On Wednesday August 10, 2011, 10:30 am EDT
TORONTO, ONTARIO--(Marketwire - Aug. 10, 2011) - Victory Nickel Inc. (the "Company") (TSX:NI - News; www.victorynickel.ca) today announced improved economics for its 100%-owned Minago nickel project in Manitoba. The improvement arises from a 24% increase in pit constrained measured and indicated resource announced earlier this year (see news release of May 2, 2011). The increased resource has extended the mine life from the Nose Deposit open pit from approximately seven years to approximately nine years.
The base case internal rate of return (IRR) has increased to 22.9% from the original estimate of 17.7% and the net present value (NPV) at a 6% discount rate has risen by $317.9 million, or 79%, to $720.5 million, compared with the feasibility study (FS) results announced by news release on December 14, 2009. Undiscounted cash flow has increased to greater than $1.5 billion (all figures in $Cdn, unless otherwise indicated).
"The process of optimizing the technical and financial aspects of the project continue and this improvement is more evidence of that work. We remain confident that additional economic enhancements will be realized from the efforts that are ongoing," said Rene Galipeau, Vice-Chairman and CEO. "While we continue to optimize the FS, we are also moving forward with financing initiatives, permitting, sourcing equipment and conducting additional metallurgical studies to improve the quality and marketability of the concentrates being produced."
Mr. Galipeau added: "This valuation relative to Victory Nickel's market cap is further indication that the markets are out of synch with asset values, a situation that must correct itself. The next milestone to moving the project forward is the receipt of the Environmental Act Licence which we expect later this month as advised by the Manitoba government and announced at the shareholders annual meeting in June."
http://www.victorynickel.ca/projects/minago/
BeantwoordenVerwijderenStockhouse:
BeantwoordenVerwijderenRE: Exceeds most of my estimates I posted on May 3
NbrCruncher1
8/10/2011 11:29:29 AM | | 95 reads | Post #30065792
With these latest improvements this makes the value of just the Minago Nose Open Pit using NPV @6%
$720.5M / 394.7M shares o/s = $1.82 / share
With the North Limb looking to be another similar sized project that could double this to $3.64/share
And all this doesn't even include any value for:
Minago at Depth (Nose or North Limb)
Added Minago Frac Sand (underground mining potential)
MEL
Lac Rocher
Lynn Lake
Any further improvements to the Nose Open Pit Mine Life from this years drill program (could raise it to 10yrs)
Victory is a vastly undervalued stock any way you look at it.
Regards,
NbrCruncher
Stockhouse:
BeantwoordenVerwijderenRE: Second quarter financials posted on NI website
ionmetals2
8/15/2011 12:57:58 PM | | 38 reads | Post #30082640
Another interesting paragraph:
The 2011 winter drill program at Minago has returned significant and prospective results, continuing to suggest that
the North Limb contains similar geology and nickel mineralization to the Nose Deposit. Recent drill results should
provide sufficient data to provide a grade and tonnage in the North Limb. The program also tested the results of a Magnetic Inversion study which suggests the presence of a large magnetic domain at depths exceeding 1.5km. It is not known if this extensive domain contains nickel so we have just completed a drill hole down to 1,527m, the deepest drill hole yet at Minago. Results from this hole are expected to be available for release very soon. Previously, the deepest hole ended in 1.91% nickel at a depth of approximately 800m. The Nose Deposit pit is planned to a depth of only 365m. The Minago Preliminary Economic Assessment (“PEA”) prepared before the FS included resources below the proposed pit depth of 365m which were to be mined by underground methods. Unfortunately this deeper mineralization could not be incorporated in the FS as drill density at this level only allowed for an inferred resource estimate which cannot be incorporated for FS purposes.
(sorry - quotes are from page 32 of the second quarter financials, not 34)
-----------------------------------
Will be interesting to see the first ever resource calc for the North Limb. No doubt it will mostly be inferred resource with some indicated, but it should be a fairly large number. My guess - purely a guess - is half a billion lbs in the North Limb as a starting resource tally -- which will only continue to grow with future drill programs.
Also - will be very interesting to see the results of the 1,527 metre long drill hole in the nose deposit. Especially considering the previous deepest hole ended in 1.91% nickel at 800 metres. Could we see 2% to 3% nickel at depth? Very likely in my opinion. Would bode very well for a lucrative and very long-lasting (i.e. decades-long) underground operation beneath the nose open pit.
TORONTO, ONTARIO--(Marketwire - Aug. 16, 2011) - Victory Nickel Inc. (the "Company") (TSX:NI - News; www.victorynickel.ca) today announced that AGP Mining Consultants Inc. has completed an Exploration Target Mineralization Inventory ("ETMI") on the North Limb mineralization at Victory Nickel's 100%-owned Minago sulphide nickel project in Manitoba. The ETMI demonstrates the potential, indicated by previous diamond drilling, for a significant expansion of the nickel resource exploitable by open pit over and above current known resource in the Nose Deposit.
BeantwoordenVerwijderenThe ETMI incorporates all the drilling done to date on the North Limb and establishes the target estimate at between 21 million and 34 million tonnes grading 0.49% to 0.59% total nickel, based on a 0.30% total nickel cutoff and 2.43 tonne/m(3)bulk density. Any resources identified in the North Limb would be in addition to the known total nickel resource of 54.2 million tonnes Measured and Indicated and 14.6 million tonnes Inferred in the Minago Nose deposit (estimated by Wardrop Engineering a Tetra Tech Company, tabulated below and announced by news release on January 6, 2009).
"This ETMI supports our longstanding conviction of the potential for the North Limb to support additional nickel resources on the property that will extend the mine life at Minago," said Rene Galipeau, Vice-Chairman and CEO. "The ETMI compares favourably in terms of grade with the current resource and the nickel mineralization and host rock at the North Limb are identical to that of the Nose Deposit. There is still excellent potential to expand the extent of mineralization in the Nose Deposit and the North Limb, which will be a focus of future drilling on the property."
Dyzc zei
BeantwoordenVerwijderenHoe denken de mensen hier over mindoro....persoonlijk denk ik dat er wel iets met de koers moet gebeuren (ik vind t vrij ondergewaardeerd) gezien datgene waar zij mee bezig zijn. Kan ik deze lage koers interpreteren als de "orphan" fase, of is er simpelweg na 13 jaar geen enkele interesse meer? Zo ja, wat moet er dan in hemelsnaam gebeuren om weer wat fantasie in de koers te krijgen? Ben benieuwd naar de gedachten....ik blijf voorlopig zitten in Mio.
17 augustus 2011 00:54
.......................................
Dyzc,
ik geloof nog steeds (meer dan ooit) in Mindoro en zal hier zeker aandacht aan spenderen.
Bij heel veel van dit soort aandelen is het een kwestie van kopen en wachten, heel lang wachten. Zolang er niets verandert aan het feit dat er nikkel ligt, moet er ooit iets met de koers gebeuren.
BeantwoordenVerwijderengr fd89
Stockhouse:
BeantwoordenVerwijderenRE: Wonder if they found Frac Sand...
NbrCruncher1
8/17/2011 3:15:56 AM | | 118 reads | Post #30089814
Very likely there's frac sand over much if not all of their Minago property including over the North Limb. The following quote from an old NR is supportive of this possibility:
SEP 9, 2009 - 09:15 ET
VICTORY NICKEL ANNOUNCES 43-101 FRAC SAND RESOURCE, PROVIDES PROJECT UPDATES...
"It's important to remember that the sandstone layer is not confined to the Minago pit area, and that this resource estimate doesn't consider the potentially significant additional tonnage of frac sand that exists outside the open pit limits and which could conceivably be mined using conventional underground mining methods," said Steve Harapiak, President and COO.
..................................
Also, I remember them saying quite a while ago that there could be as much as 2 Billion tonnes of Frac Sand
over the whole Minago site. If even 5% is mined that's 100MT (or 8.8 times the 11.4MT Frac Sand coming from the Nose Open Pit footprint or equals 88 yrs at a frac sand prod rate of 1.14MT/yr).
Another article I found indicates frac sand prices could be even higher than the $63/T expected in the DFS.
.....................................
http://finance.yahoo.com/news/Hunt-Global-Resources-to-bw-416303269.html?x=0&.v=1
Hunt Global Resources to Acquire 100 Million Ton Frac Sand Mining Operation
Press Release Source: Hunt Global Resources Inc. On Wednesday May 25, 2011, 9:00 am EDT
...
“We believe that we can begin mining frac sand as early as Q3 this year. Currently, quality Northern White frac sand is selling at $90 - $110 per ton, making this a significant transaction,” Mr. Sharp added....
Btw at $63/T (DFS price) the Frac Sand profits on only 1.14MT/yr is about $65M/yr x 88 yrs = $5.72 Billion.
At $100/T the Frac Sand profits on only 1.14MT/yr is about $107M/yr x 88 yrs = $9.42 Billion.
Not bad total potential just for the Frac Sand (not even counting the Nickel value).
Regards, NbrCruncher
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
commentaar: zoals te verwachten was is fraczand nog veel duurder geworden.
Zodra de mijnvergunning binnen is, kan NI eindelijk wat gaan doen met het fraczand.
TORONTO, ONTARIO--(Marketwire - Aug. 24, 2011) - Victory Nickel Inc. (the "Company") (TSX:NI - News), (www.victorynickel.ca) today announced that it has been granted by the Manitoba government the Environment Act Licence (the "Licence") for the construction, operation and subsequent decommissioning of the 100%-owned Minago Sulphide Nickel Project in central Manitoba. With this permit in hand, mine development can begin this winter.
BeantwoordenVerwijderen"We have completed the feasibility study, improved the economic results of that feasibility study, increased the resource in the Nose Deposit, expanded the amount of nickel within the proposed pit and identified the potential for an additional resource in the North Limb, but being granted the Licence is by far the most significant milestone achieved in the development of a nickel mine at Minago," said Rene Galipeau, Vice-Chairman and CEO. "This puts Victory Nickel in a very exclusive group of companies - those with viable, permitted sulphide nickel deposits that are ready for development immediately."
"We would like to reiterate our thanks to the government of Manitoba and the various First Nations and Metis representatives we have worked with over the past four-plus years to achieve this goal. We look forward to continuing this cooperative spirit for many years to come," added President and COO Steve Harapiak. "I would also like to personally thank the Honourable Dave Chomiak, Manitoba's Minister of Innovation, Energy and Mines, for recognizing the importance of the Minago project to the province and for his efforts on Victory Nickel's behalf throughout this process."
"The issuance of the Licence represents the approval of the Environmental Impact Statement that we submitted in May 2010," said Vice-President, Environment and Sustainable Development Dr. David Mchaina. "We adopted a thorough, cooperative and transparent approach to regulatory issues, community engagements and environmental matters throughout the permitting process to achieve this important step forward."
"The Minago mine will result in considerable socio-economic benefits accruing to the province of Manitoba, creating employment and business opportunities, and contributing substantially to the economy," Dr. Mchaina added.
With the permit in hand, the Company can begin pre-stripping the open pit this winter, and is planning to tender contracts for site engineering and power installation. Discussions regarding financing have been ongoing, and the pace of these discussions will pick up in the coming months. All of the optimization work that has been done since December 2009 will be incorporated into a revised feasibility study.
The Minago mine will produce approximately 26 million pounds of nickel per year for about nine years (see news release dated May 2, 2011) from an open pit in the Nose Deposit. The open pit material in the Nose Deposit represents only a portion of the overall nickel resource at Minago. While mining the Nose Deposit pit, the Company will plan for the potential underground mining in the Nose Deposit, as well as development of a second pit on the North Limb based on the recent announcement of an additional 21 million to 34 million tonne Exploration Tonnage Mineralized Inventory (see press release dated August 16, 2011).
Minago Feasibility Study highlights:
BeantwoordenVerwijderen-- A superior location approximately 485 KM north of Winnipeg, adjacent to
a 230 Kv power line that runs directly beside paved provincial highway
#6 linking Winnipeg and Thompson.
-- The ability to produce the world's highest grade nickel concentrate
grading up to 35.0% Ni.
-- Projected average annual ore production of 3.6 million tonnes.
-- Projected average annual nickel production in concentrate of
approximately 11,000 tonnes.
-- A valuable co-product in 11.2 million tonnes of frac sand, a high-demand
product used in the oil and gas industry that has the potential to
generate average annual revenue, net of freight, of $70 million.
-- Cash cost per pound of nickel before by-product credits: $6.95
(US$6.34).
-- Metal by-product credits of $0.79 (US$0.72) per pound of nickel.
-- Frac sand by-product value of $4.04 (US$3.68) per pound of nickel.
-- Cash costs per pound of nickel, net of credits, of $2.12 (US$1.94).
NB:
BeantwoordenVerwijderenHet bericht van Anoniem over Mindoro is in het Spam-vak verdwenen, maar dat is niet erg, ik heb het al op het Gouddraadje gezet.
Nikkel-nieuws van Mindoro kan gewoon op dit draadje geplaatst worden.
Volgens Kitco is de nikkelprijs vandaag met ca 10% gestegen tot bijna z'n recente top van $ 11 per pond.
BeantwoordenVerwijderenDit duidt bepaald niet op een komende recessie.
http://www.kitcometals.com/charts/nickel_historical.html
Helaas vandaag weer ca 10% gedaald.
BeantwoordenVerwijderenInderdaad een vreemde stijging/daling van de nikkelprijs, het lijkt haast een foutieve notering.
BeantwoordenVerwijderenVandaag schiet koper met ca 5% omhoog (volgens Kitco dan).
Hoi Precies, aller eerst wil ik je bedanken met deze site, op de Inveztor site was ik altijd benieuwd naar wat jij te zeggen had, dus een eigen site is slechts een logisch gevolg van jou precieze handelswijze. Over Mindoro heb ik hele simpele uitleg waarom ik kort geleden flink (een getal met vijf nullen) heb ingekocht; Mindoro staat op een bodemprijs, heel veel nikkel gevonden, zeer goedkoop winbaar, nikkelprijs 3 keer zo duur als koper, dus bij een nikkel vondst van 1% staat een koper vondst van 3% en het goedje is zeer goedkoop te delven en het is in een mum van tijd in China en de nikkelprijs weet zich op dit moment zich mooi te handhaven. Vriendelijke groet,
BeantwoordenVerwijderenWalter
@walter: dat is nu juist de reden dat ik al lange tijd in Mindoro zit. Vorig jaar (geloof ik) stonden ze op 10 cts omdat niet duidelijk was of ze uberhaupt verdere financiering rond zouden kunnen krijgen. Dat lijkt er nu stukken beter uit te zien. Er zijn veel positieve berichten uitgekomen, maar dat heeft tot nu toe nog niets met de koers gedaan. (ikdenk overigens wel dat dit zo'n beetje de bodem is.) ik snap alleen niet waarom de koers rotsvast blijft staan. Er is zelfs een behoorlijke insider trading geweest kort geleden.
BeantwoordenVerwijderenKortom, ik vraag mij echt af hoe het komt dat er totaal geen interesse is, ondanks de goede results, en de toch redelijk grote investeerders die betrokken zijn bij mio. Er zal dus, in mijn ogen, heel wat moeten gebeuren om de koers omhoog te krijgen naar een niveau dat de (potentiele) waarde daadwerkelijk weergeeft.
Probleem is alleen dat ik bijna niet voor mijzelf duidelijk rkijg wat de politieke situatie in de filipijnen is, ik geloof dat er nu een liberale regering zit die wel werk wil maken van de mijnbouw aldaar. Daarnaast geloof ik ook dat ze, door alle economische omstandigheden, op dit moment er juist goed aan doen o het verd te ontwikkelen. Echter, er zijn veel lokale groeperingen aldaar die er alles aan doen om de mijnbouw tegen te houden (en dat is nu juist waar ik geen inzicht in krijg)...iemand wel? Ik hoor/lees het graag. (ik heb ook getal van 5 nullen inportefeuille. Gemiddelde koers 20ct)
Grt dyzc
Dyzc en Walter,
BeantwoordenVerwijderenik heb recent helemaal niks slechts gehoord over mijnbouw en politiek in de Filippijnen en zeker niet over het gebied waar Mindoro zit.
Mindoro heeft een heel goede relatie met de omwonenden, die maar wat graag bij Mindoro zouden willen werken.
TORONTO, ONTARIO--(Marketwire - Sept. 19, 2011) - Victory Nickel Inc. (the "Company") (TSX:NI - News; www.victorynickel.ca) today announced that its Board of Directors has approved the development of the 100%-owned Minago sulphide nickel mine located on the Thomson Nickel Belt in central Manitoba.
BeantwoordenVerwijderen"Minago is an outstanding project around which to build Canada's next nickel producer," said Rene Galipeau, Vice-Chairman and CEO. "The Board of Directors has recognized this by providing management with a decisive mandate to advance the project through the next step toward development."
Throughout the summer months Victory Nickel was busy optimizing Minago and working toward the issuance of the Environment Act Licence. In addition to drill results confirming the potential for a second open pit in the North Limb, significant developments during this period include:
-- May 2: A 24% increase in the pit constrained M&I resource.
-- June 29: Receipt of the draft Minago Environment Act Licence.
-- August 8: Identifying a western extension of the Minago Nose Deposit.
-- August 10: Improved economics at Minago, including an increase in the
IRR to 22.9%.
-- August 16: Estimating an exploration target mineralization inventory (ETMI) of 21 million to 34 million tonnes grading 0.49% to 0.59% Ni in Minago's North Limb.
-- August 24: Receipt of the final Minago Environment Act Licence, the
final major regulatory requirement for mine development.
"The Minago Mine has the potential to be an extremely low cost nickel producer due to the significant by-product value of the frac sand resource," said Steve Harapiak, President and COO. "The frac sand market has grown immensely since we completed the feasibility study and we expect this to result in even better value than originally forecast. My initial focus will be to build the technical team to take this forward."
With this approval in hand, management is now faced with the task of financing the project to production. While optimizing the feasibility study and completing permitting, management has held numerous meetings with potential financing partners from various parts of the industry including investors, bankers, equipment suppliers and miners.
"The Board directed management to proceed with financing in the least dilutive manner possible. Our top priority is to secure a joint venture arrangement which will help accomplish this goal. Because of the magnitude of the frac sand component, there is potential to joint venture each of the nickel and frac sand. Equipment leasing is expected to provide approximately $100 million of the $500-600 million capex required over the next three-and-a-half to four years of development. A unique debt financing investment could also form part of the financing structure," Mr. Galipeau added.
Approximately $75 million is needed to begin development of the project this winter and sustain it until the end of 2012. This sum will finance dewatering of the property, early site works, the construction of the electrical supply and distribution system, the removal of the top 10 metre layer of overburden and commencement of detail engineering.
Conference Call and Webcast
Victory Nickel management will host a conference call on Tuesday September 20, 2011 at 3:30 pm/Toronto time to discuss recent developments at Minago and future plans for the project.
http://enickel.co.uk/?dl_id=369
BeantwoordenVerwijderenEuropean Nickel, sinds kort ENK PLC, vind ik een heel interessant bedrijf. Heeft inmiddels genoeg geld om haar Filipijnen project door de feasibility study heen te loodsen en ditzelfde project heeft al een DSO operatie. Na een mislukt avontuur in Turkije kan dit een aantrekkelijk, maar wel speculatief aandeel zijn.
Beetje in het rijtje Mindoro en Toledo. Wat vind jij van ENK, precies?
gr
fd89
FD89,
BeantwoordenVerwijderenik ben het volledig met je eens, ik heb ENK al een tijdje in de porto.
Zolang echter alle (nikkel-)aandelen in het verdomhoekje zitten, hoeven we er niet veel van te verwachten, alhoewel een overname altijd kan zorgen voor een verrassing.
Ik zag toevallig gisteren dat de nikkel-voorraden de laatste tijd behoorlijk aan het dalen zijn, dat is een zeer goed teken.
En wat betreft Victory: NI kan al heel snel met weinig investeringen beginnen met z'n fraczand, waaraan wereldwijd een enorme behoefte aan het groeien is.
NI kan ook (eindelijk!) serieus gaan onderhandelen met partners, voor zowel fraczand als nikkel.
Onbegrijpelijk dat de koers van Victory Nickel zo blijft hangen. Waarom vraag je je af ?
BeantwoordenVerwijderenAngst dat financiering niet lukt ?
Of weer aandelenuitgifte, op deze koers ?
Jaarlijks winst uit fracsand hoger dan huidige marktwaarde.
Slaat toch nergens op.
Of mis ik iets ?
Smart money koopt blijkbaar ook (nog) niet.
Reeds 500.000 stukken in bezit.
Verdubbelen dan maar ?
Toch twijfel.
BeantwoordenVerwijderenZe hebben wel behoorlijk veel geld nodig voor ontwikkeling......
Victory Nickel has the go-ahead from its board of directors to start the financing process for a new mine development that could be larger than HudBay's project in Snow Lake.
Last month, the Toronto-based company received a key environmental licence for the Minago sulphide nickel mine, located about 90 kilometres north of Grand Rapids.
The junior mining company has been working the property for several years and has spent several million dollars drilling and developing the site.
But that's peanuts compared to the $500 million to $600 million to fully develop the property, which company officials say contains one of the largest undeveloped nickel deposits in the country.
In addition to what it says will be a low-cost production operation, the property also contains significant deposits of frac sand, a valuable input necessary for use in some of the more complicated new oil and gas drilling technologies.
That sand would have to be removed to get at the ore, so its extraction would not add costs but would greatly improve the economics for Victory Nickel in the development model for Minago.
The company says it will need $75 million to begin development of the project this winter and sustain it until the end of 2012.
That money would be used to remove water from the property, do early site work, construct an electrical supply and distribution system and remove the top 10 metres of overburden.
GOLD RUSH
BeantwoordenVerwijderenThe North American rush to produce crude oil and natural gas from shale formations has driven up demand and prices for frac sand.
"There's been a sand shortage in the U.S.," EOG Chief Executive Officer Mark Papa told investors this month. "And so those who have sand or have access to sand can pretty much charge what they want for that sand."
The amount of industrial sand used in hydraulic fracturing has quadrupled from 2000 to 2009, said Tom Dolley, mineral commodity specialist at the U.S. Geological Survey.
The government estimates that 6.5 million metric tons of sand were used in hydraulic fracturing in 2009 -- the latest year figures were released -- and expects to find that amount doubled in 2010.
Because the numbers are self-reported, Dolley said they probably understate the industry's production and use of frac sands.
"There really is a gold rush right now for this type of material," he said.
As shale drilling becomes more complex and wells keep getting bigger, the need for sand will only increase in the United States and overseas.
"There may be a shortage for a long period of time," said energy analyst Mike Breard of Hodges Capital Management in Dallas.
http://www.reuters.com/article/2011/09/21/us-eog-sand-idUSTRE78K54S20110921?feedType=RSS&feedName=GCA-GreenBusiness&rpc=43
September 23, 2011 12:00AM
BeantwoordenVerwijderenJUNIOR explorer Mindoro Resources is considering a spin-off of its gold and copper assets in The Philippines.
It plans a two-stage nickel mining operation at its $914 million Agata laterite project on Mindanao Island, starting with an $8m direct shipping ore development followed by a $906m project involving the construction of a major acid-leach processing plant.
It is also encountering strong grades of copper and gold on Mindanao Island, where it restarted exploration for the metals due to the strong gold price.
High-grade gold and copper has also been found by Mindoro on Luzon and Panay islands.
"We might even spin off the copper-gold . . . but we may just choose to grow into a big mining business," chief executive Jon Dugdale said on Wednesday.
He said interest from potential customers in Asia was strong.
MINDORO SIGNIFICANTLY INCREASES AGATA NICKEL RESOURCES
BeantwoordenVerwijderen9/16/2011 6:15:06 PM - Market Wire
- Measured and Indicated resources up 31% to 42.76 million tonnes @ 1.01% nickel
- Drilling to continue testing five remaining regional targets
MELBOURNE, AUSTRALIA, Sep 16, 2011 (Marketwire via COMTEX News Network) --
Mindoro Resources Ltd (TSX VENTURE:MIO) (ASX:MDO) (FRANKFURT:WKN 906167) has increased its Mineral Resource estimate for the Agata Nickel Project, including Surigao regional targets. This includes a total Measured and Indicated resource of 42.76 million tonnes at 1.01% nickel for 430,000 tonnes contained nickel, an increase of 10.1 million tonnes or 31% compared to the September 2010 estimate, with a slight decrease in grade. In addition, the total Inferred resource has increased by 0.75 million tonnes to 2.435 million tonnes at 0.99% nickel. Total mineral resource estimates are tabulated below:
Tonnes Classification Horizon ('000) t Ni % Co % Fe % Al % Mg % SiO2 % Measured & Limonite 13,508 0.89 0.10 45 3.8 1.3 7.0 Indicated Saprolite 29,254 1.07 0.03 12 0.7 16.9 40.0 ------------------------------------ Total 42,761 1.01 0.05 22 1.7 12.0 29.0 ------------------------------------ Inferred Limonite 683 0.81 0.09 40 4.8 1.8 13.7 Saprolite 1,753 1.06 0.03 12 0.7 16.6 40.0 ------------------------------------ Total 2,435 0.99 0.04 20 1.9 12.4 33.0 ------------------------------------
Company President and CEO Jon Dugdale said, "This significant increase to the resource base at Agata Nickel Project and regionally will provide for additional mine life beyond the 15-year project described in the March 2011 PEA. Additionally, it provides the opportunity for early production based on high-iron limonite at the top of the laterite profile."
The total resource estimate consolidates four separate deposits: Bolobolo and Karihatag prospects located approximately 20 km north of Agata (North); Agata South located approximately 5 km south of Agata (North) and the resource estimates for Agata North released 8 September 2010. All resources are located within 2 km of the coast. The Agata South resource is located within the Agata MPSA, that has a granted Environmental Compliance Certificate (ECC) for up to two million dry metric tonnes of shipping ore production per annum. Bolobolo and Karihatag are located on a granted Exploration Permit (EP).
A total of five regional exploration targets have now been tested: Bolobolo, Karihatag and Agata South where resources have been defined, and Tapian East and Canaga where no resource has been defined to date due to lack of continuity between isolated intercepts. Mapped laterite exploration targets not yet drill-tested include San Jose, Tapian Central (Mamatfa), Tapian West (Corplex), Villariza and Mat-I. Drilling will continue as access to these areas is improved. The remaining Exploration Target for these areas is under review and subject to initial drilling to determine thickness.
Analyse Mindoro (koersdoel 34 ct)
BeantwoordenVerwijderenhttp://www.actonsoftware.com/acton/attachment/1646/1646:f-0024/0/s-000b-1110/-/l-003a/l-003a:19e/
Dyzc,
BeantwoordenVerwijderenzeer interessant!
Deze (betaalde) adviseur denkt dat Mindoro al in 2013 winstgevend wordt.
Dyzc, bedankt voor je artikel, ik ben benieuwd voor de toekomst en heb er alle vertrouwen in, het was trouwens wel even schrikken dat er aardig wat mensen waren die Mindoro voor een ramsj prijs van de hand deden, maar wonderwel trekt de koers weer heel snel aan. Succes voor iedereen met Mindoro, ik wens het mijzelf ook toe, aangezien ik er tot over mijn oren in zit! Groet Walter
BeantwoordenVerwijderenSand Like Gold Boosts Greenbrier’s Railcar Production: Freight
BeantwoordenVerwijderenBy Alex Kowalski - Nov 9, 2011
An oil drilling rig stands on the Bakken formation in Watford City, North Dakota, U.S. The Bakken formation has about 3 billion barrels to 4.3 billion barrels of recoverable oil, the USGS estimates.
Greenbrier Cos Inc. (GBX) and American Railcar Industries Inc. (ARII) can’t expand their fleets fast enough as demand for sand used in the hunt for oil and natural gas helps power U.S. railcar production to a three-year high.
“Everybody is asking for cars right now,” Dale Davies, chief financial officer at American Railcar, said in a telephone interview from his Saint Charles, Missouri, office. “Everybody is trying to ramp their capacities up as much as they can. We’re pretty much full for 2012.”
Companies involved in oil and natural gas production such as Chesapeake Energy Corp. (CHK) are thriving even as 9 percent unemployment, a depressed housing market and stagnant incomes restrain the economy. Their demand for railcars is creating jobs and boosting earnings at railway suppliers as the industry piggybacks off the drilling resurgence from Pennsylvania and Wyoming to North Dakota and Texas.
Trains transport as much as 2,500 tons of sand for a single hydraulic fracturing project, which involves splintering open tiny cracks about a mile beneath the earth’s surface to unlock stores of petroleum and natural gas. When the so-called fracking is complete, a different set of railcars hauls out the thousands of barrels of newly discovered fuel.
“Energy transformation is afoot in North America,” William Furman, chief executive officer at Lake Oswego, Oregon- based Greenbrier, said on a Nov. 3 conference call with analysts. “Demand for railroad, railcars and railroading has uncoupled from the overall economic drivers which have long linked the industry to gross domestic product and the economic health of the nation.”
Highest Since 2008
The need to move fracking components has helped push the number of railcars waiting to be built to 65,044, the highest level since 2008 and the seventh consecutive quarterly increase, according to Steve Barger, an analyst at Keybanc Capital Markets Inc. in Cleveland, citing Railway Supply Institute statistics.
--------------------------------------
commentaar: er is een gigantische hausse aan de gang voor 'frackzand', dat onmisbaar is voor het fracken van shale, met allerlei gevolgen op andere gebieden zoals spoorwagons voor zandvervoer...!!
Het gevolg is natuurlijk ook dat het frackzand van Victory Nickel steeds meer waard wordt.
De enige mij bekende fabrikant van kunstmatig frackzand heeft nu een beurswaardering van ca 3,5 miljard en kan Victory overnemen uit de kleine kas, maar ook bv Schlumberger zou interesse kunnen gaan tonen in Victory.
http://www.bloomberg.com/news/2011-11-09/sand-like-gold-boosts-greenbrier-s-railcar-production-freight.html?cmpid=yhoo
BeantwoordenVerwijderenWorld’s lightest material is made out of nickel
BeantwoordenVerwijderenMichael Allan McCrae | November 20, 2011
Scientists claim to have made the world’s lightest material—so light it can float on top of dandeloin fluff—and they made it out of nickel.
The metal used matters less than the structure. The material, developed by researchers at HRL Laboratories, LLC, is made out of micro-lattices that maximize strength in relation to the amount of material used. The structure is actually 99.99% air.
Nickel was used by the researchers since it was the easiest material to work with.
The claim that it is the world’s lightest material has not been independently verified. The Atlantic could not find the category in the Guinness Book of World Records.
“The trick is to fabricate a lattice of interconnected hollow tubes with a wall thickness of 100 nanometers, 1,000 times thinner than a human hair,” said lead author Dr. Tobias Schaedler.
The material is so light, in fact, that it is 100 times lighter than styrofoam.
“This new material redefines the limits of lightweight materials because of its unique “micro-lattice” cellular architecture,” said HRL Laboratories in a statement.
Possible uses for the new material are battery electrodes, catalyst supports, and acoustic, vibration or shock energy damping.
Natural gas, oil boom spurs sand mining in Midwest
BeantwoordenVerwijderenOil, natural gas drilling in US sparks fight over mining of Midwest sand for use in 'fracking'
By Steve Karnowski, Associated Press | AP – 8 minutes ago
CHIPPEWA FALLS, Wis. (AP) -- The rolling hills and scenic bluffs of western Wisconsin and southeastern Minnesota hide a valuable resource that has sparked what's been called a modern-day gold rush.
The object of desire is not gold but a soft sandstone needed by drilling companies to unlock underground natural gas and oil supplies in a controversial practice called hydraulic fracturing, or fracking.
Largely overlooked in the national debate over fracking is the emerging fight in the U.S. heartland over mining "frac sand," which has grains of ideal size, shape, strength and purity. Mining companies say the work provides good jobs in rural areas, but some residents fear the increase in mining could harm human health and the environment.
"More and more people are waking up to the fact that there are difficulties with this massive explosion," said Pat Popple, a retired school teacher and principal and anti-sand mining activist.
U.S. frac sand producers sold or used more than 6.5 million metric tons of sand worth $319 million in 2009, according to the U.S. Geological Survey. The tonnage likely will have doubled when 2010 data is released, said Thomas Dolley, a USGS mineral commodity specialist who follows the silica mining industry.
"It's huge," Dolley said. "I've never seen anything like it, the growth. It makes my head spin."
Nearly three-fourths of frac sand comes from the Midwest. It's shipped by rail hundreds of miles to the oil and gas fields of Texas, Pennsylvania and North Dakota, where drillers mix it with water and chemicals, then force it deep underground to fracture shale deposits that hold gas and oil that couldn't be tapped conventionally. Critics say the process can diminish water quality and even cause earthquakes.
John Felmy, chief economist with the American Petroleum Institute, said opponents of hydraulic fracturing are "fundamentally misguided" and the environmental fears are unwarranted. The surge in sand mining has extended the domestic energy boom to portions of the country that don't produce much fuel, bringing jobs and economic development, he said.
Frac sand mining has had a foothold in Wisconsin's Chippewa County since 2008. The most visible sign is the huge new EOG Resources Inc. plant in Chippewa Falls, where a steady parade of shiny new trucks delivers a load of orange sand from a nearby mine every few minutes.
The plant, which is still in the start-up phase, will bring 40 to 50 full-time jobs to the community, while mining contractors now employ about 25 people and the trucking company that delivers the sand has added over 70 jobs, company spokeswoman K Leonard said. About 90 percent of the 38 employees EOG has hired so far are from the area, she said.
Frac Sand dus erg interessant !
BeantwoordenVerwijderenBenieuwd of en wanneer Victory Nickel ooit dat spul een keer gaat produceren/verkopen ?!
Koers nu CAD 0,065.......
Hoeveel cash hebben ze momenteel nog ?
Uitgifte aandelen op deze koers niet erg aantrekkelijk.
Anoniem,
BeantwoordenVerwijderenin feite heeft Victory alle vergunningen en kunnen ze direct beginnen met het graven van een pit (en dus met het fraczand).
Ik neem aan dat we zeer binnenkort een bericht krijgen over een samenwerking inzake het fraczand en waarschijnlijk gaat die partner dan het fraczand-project financieren.
IPO Preview: U.S. Silica Holdings
BeantwoordenVerwijderenJanuary 30, 2012 | about: SLCA,
Based in Frederick, Maryland, U.S. Silica Holdings (SLCA) scheduled a $201 million IPO with a market capitalization of $901 million at a price range mid-point of $17 for Wednesday, February 1, 2012.SLCA is one of eight IPOs scheduled for this week (see our IPO calendar).
SUMMARY
SLCA provides for general commercial markets and for the oil/gas fracking market. The growth in the business has come from the fracking market, on which we have turned negative.
BUSINESS
SLCA is the second largest domestic producer of commercial silica, a specialized mineral that is a critical input into a variety of attractive end markets.
In SLCA's largest end market, oil and gas proppants, its "frac sand" is used to stimulate and maintain the flow of hydrocarbons in horizontally drilled oil and natural gas wells.
This segment of the business is experiencing rapid growth due to recent technological advances in the hydraulic fracturing process, which have made the extraction of large volumes of oil and natural gas from U.S. shale formations economically feasible.
SLCA produces a wide range of frac sand sizes and are one of the few commercial silica producers capable of rail delivery of large quantities of API grade frac sand to each of the major U.S. shale basins.
SLCA believes that due to a combination of these favorable attributes and robust drilling activity in the oil and natural gas industry, it has become a preferred commercial silica supplier to customers in the oil and gas proppants end market and, consequently, are experiencing high demand for frac sand.
OVER EXPANSION?
To meet this demand, SLCA is investing significant resources to increase proppant production, including expanding frac sand capabilities by approximately 1.2 million tons, or approximately 75% above tons sold in 2010, and constructing a new facility to produce resin-coated sand, which significantly expands SLCA's addressable proppant market.
SUPPLY
Supplies of commercial silica have failed to keep pace with demand for approximately the past 18 months. During the economic downturn of 2008 and 2009, demand for commercial silica from customers in various industrial and specialty products end markets decreased.
As a result, there was no significant expansion of domestic commercial silica supply. This, combined with the continued growth in demand for frac sand and the rebound in industrial and specialty products end markets in 2010, has created a supply-demand disparity.
SLCA believes that if the present level of demand growth continues for the foreseeable future, a significant expansion in the supply of commercial silica will be needed to balance the market. SLCA and other large producers, have implemented or announced some supply expansions, and other smaller producers have made similar announcements. However, there are several key constraints to increasing production on an industry-wide basis, including:
PRICING
Historically, commercial silica has been characterized by regional markets created by the high weight-to-value ratio of silica. The increased demand for commercial silica from customers in both the oil and gas proppants end market and industrial and specialty products end markets has resulted in favorable pricing trends in both of our operating segments.
If demand for frac sand continues to rise, and if the general economic recovery continues to result in increased demand from SLCA customers in industrial and specialty products end markets, SLCA expects the prices that its products demand will continue to increase. Between 2000 and 2009, commercial silica prices increased at an average annual rate of 9.0%.
According to a Freedonia report dated April 2011, demand for all proppants is projected to increase approximately 16% per year to $5.1 billion in 2015, and, more specifically, demand for frac sand and resin-coated sand in the United States and Canada is projected to increase 15% per year to $1.9 billion in 2015.
China Development Bank has $1 trillion to lend: Its investment arm is ‘very actively seeking’ nickel assets
BeantwoordenVerwijderenReuters | March 23, 2012
Reuters reports China Development Bank’s investment division, backed by more than $1 trillion in lending capacity, have helped Chinese firms snap up copper, uranium, iron ore and coking coal assets around the world, “but have yet to make a big splash in nickel”:
He [China Development Bank International executive director Lei Mu] added that China Development Bank International is interested in buying iron ore and coking coal assets and is also targeting nickel.
“Everyone’s talking about iron ore, and we are kind of keen on iron ore as well. Coking coal’s definitely one of the things we’re looking at.”
“Because we are the largest shareholder in one of Asia’s largest nickel companies, we have been very actively seeking similar assets for this company for our future investment,” he said.
Victory Nickel Drill Program Progressing at Minago Sulphide Nickel Project
BeantwoordenVerwijderenDrilling evaluating potential infrastructure sites
Press Release: Victory Nickel Inc. – 3 hours ago
Symbol Price Change
NI.TO 0.055 -0.01
TORONTO, ONTARIO--(Marketwire -04/04/12)- Victory Nickel Inc. (the "Company") (TSX: NI.TO - News) (www.victorynickel.ca), today announced that drilling is progressing at its 100%-owned Minago sulphide nickel projects in Manitoba.
A planned 3,500 metre program is testing a number of geological and geophysical targets around the property that were identified in previous work programs as well as areas that are scheduled for Minago mine infrastructure development. In part, the drilling is evaluating the nickel bearing Ospwagan Group/Pipe Formation rocks in the vicinity of the Minago Nose Deposit . Given the widespread nature of nickel mineralization on the Minago Project, and the number of targets identified the possibility of intersecting completely new nickel mineralization is considered good.
Diamond drilling is also being conducted on Mining Lease ML-003, located some five kilometres south of the Minago Nose Deposit. The site is known, from historical work, to be underlain by substantial thicknesses of nickeliferous serpentininte. The drilling is planned to confirm the presence of the nickel mineralization and evaluate the mineralization in comparison with that found elsewhere on the project.
Victory Nickel 's Qualified Person under the NI 43-101 guidelines is Paul Jones, Vice-President, Exploration. Mr. Jones has reviewed and approved the contents of this news release.
Corporate
The Company 's 2011 Annual Information Form and audited financial statements and management's discussion + analysis were recently filed and are available on www.SEDAR.com and www.victorynickel.ca.
About Victory Nickel
Victory Nickel Inc. is a Canadian company with four sulphide nickel deposits containing significant NI 43-101-compliant nickel resources. Victory Nickel is focused on becoming a mid-tier nickel producer by developing its existing properties, Minago, Mel and Lynn Lake in Manitoba, and Lac Rocher in northwestern Quebec, and by evaluating opportunities to expand its nickel asset base. Victory Nickel also owns shares in Prophecy Coal Corp. (TSX-V: PCY.TO - News), Prophecy Platinum Corp. (TSX-V: NKL.V - News), Miocene Metals Limited (TSX-V: MII.V - News) and Wallbridge Mining Company Limited (TSX: WM.TO - News), the third largest landholder in the Sudbury Basin, which in turn owns an interest in Duluth Metals Limited.
De koers van Victory Nickel wordt op het ogenblik totaal in elkaar gestampt door een grote dumper die z'n aandelen blijkbaar tegen iedere prijs kwijt wil.
BeantwoordenVerwijderenDe koers staat nu op ongeveer hetzelfde nivo als tijdens de Lehman-crash.
Ik koop bij omdat ik vooral geloof in het frakzand-verhaal.
Steeds meer grote bedrijven in de olieservice-sector willen iets doen met frakzand.
Omzet vandaag meer dan 20x de normale omzet (4,1 miljoen stuks) bij een gelijkblijvende koers.
VerwijderenAs of 11:59pm ET April 10th, 2012
BeantwoordenVerwijderenFiling
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction # or value acquired or disposed of Unit
Price
Dec 19/11 Dec 16/11 Galipeau, René Réal Direct Ownership Common Shares 10 - Acquisition in the public market 50,000 $0.065
Dec 19/11 Dec 15/11 Galipeau, René Réal Direct Ownership Common Shares 10 - Acquisition in the public market 8,000 $0.065
Nov 30/11 Nov 25/11 Galipeau, René Réal Direct Ownership Common Shares 10 - Acquisition in the public market 50,000 $0.075
......................................
Eind vorig jaar heeft de topman van Victory nog bijgekocht op de beurs voor 6,5 en 7,5 cent.
Enige nuance : topman koopt dus voor CAD 7.000 Victory bij.
VerwijderenDat is denk ik zijn vakantiegeld.....
Dus zou bijna zeggen dat het negatief.
Ale je echt vertrouwen hebt koopt zo'n man toch 1.000.000 stukken.
Welke grote dumper zou z'n stukken kwijt willen ?
Iemand die weet dat er een mega aandelen uitgifte aan zit te komen ?
Koop ook maar wat bij !
Anoniem,
Verwijderendeze topman zit al tot z'n nek in deze aandelen en krijgt ook nog opties, die op dit moment waarschijnlijk waardeloos zijn.
Dit soort 'vreemde' dumps komt helaas regelmatig voor bij dit soort aandelen, waarschijnlijk komen we er nooit achter wie dit doen.
Een emissie is sowieso zeer waarschijnlijk gezien de grote plannen van NI.
Ik neem aan dat er ook een grote partner gevonden moet worden.
Victory Nickel Reports on Winter Programs
BeantwoordenVerwijderenBetter-Than-Expected Results Continue from Site Preparation Work
Press Release: Victory Nickel Inc. – 6 hours ago
Symbol Price Change
NI.TO 0.04 0.00
TORONTO, ONTARIO--(Marketwire -05/14/12)- Victory Nickel Inc. (the "Company") (NI.TO) (www.victorynickel.ca) today announced several developments arising from the winter work program at its 100%-owned Minago sulphide nickel project in Manitoba.
"Since receiving our Environment Act Licence our primary task has been to secure construction financing for the Minago mine. To this end, recent meetings with offshore groups have been very encouraging, but the focus on financing doesn't mean site work is not continuing," said Rene Galipeau, Vice-Chairman and CEO. "In addition to the drill program, other site activities are ongoing in anticipation of the start of the first phase of construction once mine financing is secured."
These activities include drainage ditching and an overburden characterization program.
Drainage Ditching:
The Company has constructed a 2.3 kilometre test drainage ditch from the centre of the proposed one kilometre-plus diameter Minago open pit, extended with two chevrons to the outer edges of that pit. The intent is to investigate the potential for site drainage using more cost-effective means. Thus far, the system is performing better than expected. The next step is to install additional drainage ditches to drain the entire pit area in preparation for the overburden removal.
"This positive result should put to rest once-and-for-all any historical perception of serious water issues at Minago that could impede construction and mining," said Steve Harapiak, President and COO. "More importantly, this finding will have a positive impact on capital and operating costs and it establishes that year-round mine construction is feasible at Minago."
Overburden Characterization:
An overburden characterization program over the proposed open pit area has produced two results predicted to have a positive impact on costs and timing of pre-stripping the nickel deposit:
-- First, the program incorporating test pitting and drilling has reduced
the expected volume of overburden by 18.5% from the feasibility study
estimate, resulting in an estimated cost savings of $5.6 million.
-- Second, there are no soft clays overlying the pit area. This, combined
with the ability to drain surface water by ditching, again will lead to
cost reduction from replacing the expensive dredging process projected
in the feasibility study with more cost-effective mechanical overburden
removal.
"This too is great news," said Mr. Harapiak. "Minago continues to provide better-than-expected results in a number of areas, and we anticipate more will come."
Single Blanket Work Permit:
Another positive development is the issuance by the Manitoba Government of a single blanket Work Permit covering all work done on the project site for a period of one year. This development will expedite site work as it eliminates the need to apply for permits to undertake individual activities.
Winter Drill Program:
The winter drill program is now complete. Assays are pending from the approximately 4,150 metre program that includes exploration holes testing potentially nickel-bearing magnetic and electromagnetic anomalies and geological targets around the property, some of which were also considered to be condemnation drill holes necessary in advance of infrastructure development.
Victory Nickel 's Qualified Person under the NI 43-101 guidelines is Paul Jones, Vice-President, Exploration. Mr. Jones has reviewed and approved the technical contents of this news release.
http://www.victorynickel.ca/_resources/project_digest/
VerwijderenMeteor crater in Greenland could yield nickel riches
BeantwoordenVerwijderenMINING.com Editor | July 10, 2012
Vancouver junior, North American Nickel (CVE:NAN), said that its Greenland property is the remains of a gigantic, three-billion-year-old meteorite impact, and displays a similar geological formation that is found in the Sudbury Basin.
The Mannitsoq project is 70 km long and up to 15 km wide with numerous historical high-grade nickel occurrences.
The Geological Survey of Denmark and Greenland confirmed that the site is remains of meteor crater. Findings were published in journal Earth and Planetary Science Letters.
The Sudbury Basin is the site of the second-largest impact crater on Earth and is also home to one of the world's largest mining communities due to its massive resources of nickel, copper, platinum and gold.
Currently North American Nickel is conducting electromagnetic surveys of the Greenland-based Mannitsoq project by helicopter. The company estimates that drill samples will be gathered later this summer.
The company says the project is remarkably under-explored.
Read the full news release:
Earth's Oldest Meteor Impact Site Discovered at North American Nickel's Maniitsoq Ni-Cu-PGE Project, Southwest Greenland
VANCOUVER, BRITISH COLUMBIA, Jul 10, 2012 (MARKETWIRE via COMTEX) — North American Nickel Inc. /quotes/zigman/5296749 CA:NAN +6.25% /quotes/zigman/10400783/quotes/nls/wscrf WSCRF -0.31% (cusip:65704T 108). North American Nickel ("NAN") is pleased to note that on June 28, 2012 the Geological Survey of Denmark and Greenland ("GEUS") announced that the Maniitsoq Structure represents "The remains of a gigantic, three-billion-year-old meteorite impact…" This announcement by GEUS coincided with the same day publication of a paper on this subject in the prestigious journal Earth and Planetary Science Letters (Elsevier) authored by Adam A. Garde, Iain McDonald, Brendan Dyck and Nynke Keulen.
http://71.45.131.15/originalpeople/blog/view/15524/the-oldest-and-biggest-ever-asteroid-crater-discovered-in-greenland--suggesting-huge-impact-more-than-three-billion-years-ago
VerwijderenBlijft al een aantal maandag angstig stil omtrent Victory Nickel en de plannen om Frac sand te gaan verkopen?
BeantwoordenVerwijderenWat denk jij Precies? Rustig aanhouden en hopen op betere tijden (hogere Nickel-prijs) en hopen dat het Frac sand project van de grond komt?
HG
Henk
Henk,
Verwijderende nikkel-prijs doet het heel goed de laatste tijd en staat nog steeds op een zeer winstgevend nivo (ca 8).
Ik ben er verder van overtuigd dat er bij NI hard gewerkt wordt aan verschillende projecten en dat we vroeg of laat goed nieuws te horen krijgen.
Het algemene klimaat voor grondstoffen-aandelen is natuurlijk nog steeds bere-slecht, maar NI op het huidige nivo verkopen lijkt mij geen optie.
Onze enige troost is de wetenschap dat dit soort aandelen geheel onverwacht kunnen exploderen, al of niet met nieuws.
Victory Nickel Completes Asset Purchase Agreement for Seven Persons Sand Plant
BeantwoordenVerwijderenAcquisition Marks First Step Towards Frac Sand Production, Cash Flow Generation in 2013
MarketwirePress Release: Victory Nickel Inc. – 9 minutes ago
Symbol Price Change
NI.TO 0.025 0.00
TORONTO, ONTARIO--(Marketwire - Jan 9, 2013) - Victory Nickel Inc. ("Victory Nickel" or the "Company") (NI.TO) (www.victorynickel.ca) today announced that it has completed an Asset Purchase Agreement (the "Agreement") for the Seven Persons sand recycling facility ("the 7P Facility") located southwest of Medicine Hat, Alberta (see photos at http://media3.marketwire.com/docs/sevenpersonsplant.jpg) .
"The acquisition of the 7P Facility presents Victory Silica with an avenue to generate cash flow for Victory Nickel from frac sand production and sales in the near term," said René Galipeau, Vice-Chairman and CEO of Victory Nickel.
At the meeting of shareholders held in June 2012, the Company announced the creation of Victory Silica Ltd. ("VSL"). VSL was created to establish Victory Nickel''s presence in the frac sand market prior to commencing production of both nickel and frac sand at the 100%-owned Minago mine in Manitoba. The Minago feasibility study envisions production of up to 1.14 million tonnes per year of premium-quality frac sand from the Winnipeg Formation sandstone resource that overlies the Minago nickel deposit.
2)
BeantwoordenVerwijderenIn order to establish Victory Nickel as a premier frac sand supplier today, VSL has planned a three-phase program. Phase 1 establishes production of 400,000 tons per annum ("tpa") of premium-quality Midwest frac sand from the 7P Facility by shipping partially-processed sand purchased in Wisconsin to the 7P Facility for final processing and distribution. The 7P Facility is well located in an area populated with fracking companies (see map at http://media3.marketwire.com/docs/sevenpersonsmap.jpg), its customers, and is within only a few hours'' trucking distance of the well sites. Phase 2 will reduce costs and assure security of sand supply through the acquisition of a frac sand mine in Wisconsin. In Phase 3, Victory Silica has identified a site in Winnipeg, Manitoba, where it plans to build a larger frac sand plant to process and distribute both imported and domestic sands, including sand mined at Minago.
The acquisition of the 7P Facility has now been completed subject to certain conditions and events. The terms of the agreement provide for payment in three stages:
An initial payment of $10,000 on signing the Agreement.
A second payment of $300,000 on receipt of approval from Alberta''s Energy Resources Conservation Board ("ERCB") of a reclamation plan to convert the 7P Facility site to a frac sand processing facility; it is currently licensed as a sand recycling facility.
A final payment of $400,000 on recovery from ERCB of a reclamation deposit that was posted by the vendor of the 7P Facility or within 90 days of the submission of a reclamation report, the final step of the reclamation plan mentioned in 2) above, whichever comes first.
Once the reclamation plan is approved by ERCB, the Company will commence the reclamation work, currently estimated to take approximately three months. The engineering, equipment acquisition and construction of plant upgrades to convert the 7P Facility to a 400,000 tpa frac sand processing plant will occur simultaneously with reclamation.
"The frac sand market is constantly evolving, and this presents new opportunities to VSL," said VSL CEO Ken Murdock. "High-quality Midwest frac sand remains at a premium, and the relationships we are establishing in the US and Canada today will benefit Victory Nickel in the near-term as well as down the road when Minago financing, mine development and production moves forward. Our internal forecasts indicate that margins in excess of $25 per ton of frac sand can be realized on sales from the 7P Facility."
"We are fortunate to have the expertise of Ken Murdock," said Mr. Galipeau "Today''s achievement is Ken''s first step in his three-phase program which calls for production of 400,000 tpa of premium-quality Wisconsin frac sand in Canada by mid-2013 expanding to 1,500,000 tpa of imported and domestic frac sand within two years. Financing discussions are advancing."
Victory Nickel Announces Loan Agreement
VerwijderenProceeds to Fund General Working Capital Requirements
Press Release: Victory Nickel Inc. – Fri, Jan 25, 2013 5:07 PM EST
Symbol Price Change
NI.TO 0.045 0.00
TORONTO, ONTARIO--(Marketwire - Jan 25, 2013) - Victory Nickel Inc. ("Victory Nickel" or the "Company") (NI.TO) (www.victorynickel.ca) today announced that it has completed a loan agreement (the "Loan Agreement") whereby the lender provided the Company with a secured loan facility for $1 million (the "Loan"). The Loan bears interest at 12% per annum, payable quarterly in arrears and matures on January 31, 2015.
As well, negotiations are well advanced to increase this Loan to up to $3.0 million with the additional amount available to fund capital expenditures relating to the Seven Persons sand recycling facility (the "7P Facility") located southwest of Medicine Hat, Alberta which Victory Nickel has agreed to purchase subject to certain conditions (see news release dated January 9, 2013).
At the option of the Lender and under certain circumstances, the Lender can elect to receive prepayment of the Loan from the proceeds of an option payment payable prior to March 1, 2013 pursuant to a property sale agreement.
http://www.gmanetwork.com/news/story/287028/economy/agricultureandmining/mrl-gold-to-build-small-nickel-processing-plant-in-surigao-del-norte
BeantwoordenVerwijderenVictory Nickel Begins Sand Shipments to Seven Persons Plant in Alberta
BeantwoordenVerwijderenSubsidiary Victory Silica set to commence frac sand production at new 500,000 TPY facility
Toronto, January 29, 2014 – Victory Nickel Inc. (“Victory Nickel” or the “Company”) (TSX: Ni) today announced that the first shipment of 900 tons of washed, concentrated sand from the transload terminal in Winona, WI for drying, screening and sale from the Company’s new Seven Persons frac sand dry plant ( the “7P Plant”) near Medicine Hat, AB has now taken place.
“This first movement of premium-quality Jordan Formation sand concentrate to our 7P Plant for drying and screening is a tremendous milestone for Victory Nickel and Victory Silica,” said Ken Murdock, Victory Silica’s CEO. “Construction of our 500,000 ton per year frac sand dry plant is approaching completion; required mobile equipment has been acquired and is ready at our plant and rail siding; and all the necessary supply and transport agreements are in place. All costs other than plant operating costs are fixed under contract and we look forward to commissioning our new plant and making that first sale of high-quality frac sand very shortly.”
“Ken and his crew did an outstanding job dealing with difficult situations to complete the construction of a modern facility which has a capacity of 500,000 tons of frac sand,” said René Galipeau, Vice-Chairman and CEO of Victory Nickel. “Design changes during construction to increase availability and therefore production capacity delayed the project somewhat but it will be worth it in the very near term.”