Overview
Nickel has lengthy been used within the manufacturing of stainless-steel, however because the world races in the direction of widespread adoption of inexperienced applied sciences, similar to electrical automobiles and renewable power sources, the steel is changing into more and more engaging for its function in high-capacity batteries. The inexperienced steel lately skyrocketed a historic 250 p.c in two days, the largest-ever enhance for nickel on the London Metals Change (LME). Russia’s invasion of Ukraine is the presumed catalyst, as Russia is the third-largest producer of nickel. LME halted buying and selling for the day on March eighth as a consequence of quickly crossing the US$100,000/tonne threshold after which receding to US$80,000/tonne earlier than buying and selling halted.
Even earlier than Russia’s invasion of Ukraine, nickel had a optimistic outlook for 2022 after it surpassed expectations in 2021 with the steel ending in a deficit. Stainless-steel is predicted to stay the important thing driver of nickel demand for 2022, however the utilization of nickel cathodes in long-range EV batteries is strengthening momentum. Some market analysts anticipate a “supercycle like no different” for the assorted metals essential for the world to transition to inexperienced power and the electrification of issues.
The supercycle will go down as traditionally vital as it’s goals to switch centuries of devoted fossil gasoline use. The demand for nickel in inexperienced applied sciences remains to be gaining momentum, presenting mining firms with a novel alternative: act pre-emptively to obtain a sustainable long-term market place. Governments world wide have made guarantees to transition to wash power, a robust indication of the anticipated supercycle. Canada alone has promised that every one of its electrical energy and all new automobiles bought can be zero-emission by 2035 – extra clear power metals are essential to attain that purpose. The place will they arrive from?
Metallic Power (TSXV:MERG) is a well-funded battery steel exploration firm centered totally on nickel. The corporate has two tasks in politically steady jurisdictions in Canada: Manitoba and Ontario. With a robust administration workforce in place, the corporate is poised to capitalize on areas recognized for high-grade nickel deposits. Metallic Power’s flagship mission, Manibridge, covers 4,368 hectares inside the famend Thompson Nickel Belt in Manitoba.
James Sykes, CEO of Metallic Power, lately put the significance of the Manibridge Undertaking’s location into context, stating, “The factor we all know in regards to the Thompson Nickel Belt is that over six billion kilos of nickel has been produced from inside the belt since 1961, that’s a number of nickel. It’s the fifth-largest nickel mining jurisdiction on the planet; this isn’t a bit of space, that is large. This has world implications shifting ahead, particularly with the appearance of EVs and battery necessities, we want nickel! So why not return to the Thompson Nickel Belt.”
A 3,000-meter drill program lately commenced inside the Manibridge Undertaking concentrating on high-grade nickel inside a kilometre of the outdated mine workings. The drilling program is targeted on a historic mining space that produced 1.3 million tonnes of high-grade nickel from 1971 to 1977. Metallic Power isn’t simply reproducing historic drill holes, it is recognized further targets to increase the present envelope of high-grade nickel.
The Unusual Undertaking, the corporate’s second mission, is situated inside the Animikie Basin geological area within the Thunder Bay space, northwestern Ontario. This geologic area hosts Lundin Mining’s (TSX:LUN) Eagle East and Eagle Mine sulphide nickel deposits..
Metallic Power is a part of the Ore Group, a group of mining firms concentrating on premier jurisdictions that share in-house technical and monetary experience. Moreover, a workforce of skilled consultants lead Metallic Power’s exploration and progress. James Sykes, CEO, brings his previous successes within the uranium area to the workforce, assured he can repeat historical past… this time with nickel. Stephen Stewart serves as chairman and director, including his intensive administration background to the workforce. Charles Beaudry provides 30 years of expertise in exploration and hands-on mission administration inside the mining area. The workforce is rounded out by Mike Sweeny, VP Exploration & Improvement, who’s very profitable +30 yr profession within the nickel exploration and mining area is invaluable.
Firm Highlights
- Metallic Power is targeted on high-grade nickel tasks in politically steady and mining-friendly jurisdictions in Canada.
- The corporate’s flagship mission, Manibridge, encompasses a high-grade nickel past-producing mine inside the traditionally prolific Thompson Nickel Belt, recognized for producing billions of kilos of high-grade nickel since 1961
- A drilling program lately started at Manibridge that goals to verify historic outcomes and increase the recognized occurrences of high-grade nickel
- The Unusual Undertaking is situated inside a geological area in Ontario that’s already house to high-grade nickel and copper tasks.
- The corporate is led by a various administration workforce with a number of previous successes that they consider they’ll repeat with the corporate’s nickel tasks
Key Tasks
Manibridge Excessive-Grade Nickel Undertaking
The Manibrige Undertaking is situated inside the well-known Thompson Nickel Belt, which is without doubt one of the world’s richest nickel districts. The corporate believes that the mission has potential for quite a few multi-million-tonne deposits of high-grade ore enveloped by further lower-grade mineralized shells.
Undertaking Highlights:
- Astounding Historic Outcomes: The mission’s space was previously owned by Falconbridge from 1971 and 1977, throughout which period it produced 1.3 million tonnes of two.55 p.c nickel and 0.27 p.c copper to a depth of 381 meters.
- Drilling to Uncover Further Excessive-Grade Deposits: Metallic Power’s new drilling program goals to verify exploration knowledge that signifies high-tenor, high-grade sulphide nickel mineralization beneath and on strike of traditionally mined areas.
- Encouraging Outcomes From 2019 Drilling: The Manibridge North goal, 3 kilometres northeast and on strike with the Manibridge Mine produced further promising outcomes, together with 12.06 p.c nickel at 128 meters, and 6.79 p.c nickel at 87 meters.
- Developed Infrastructure: The mission space has year-round freeway and railway entry, and is situated close to Thompson, MB, each facilitating transportation of future manufacturing.
The Unusual Undertaking
This mission is a possible district-scale discovery alternative for nickel sulfide. A number of targets have already been recognized, together with a couple of large-scale magnetic anomalies. The presence of the anomalies prompted Metallic Power to stake further claims, bringing the whole space of the mission to 11,00 hectares.
Undertaking Highlights:
- Developed Infrastructure: The mission space has year-round freeway entry and is situated close to Thunder Bay, ON, each facilitating transportation of future manufacturing.
- Drill Program Deliberate and Permitted: A drill program to check the sequence on the base of the mid-continental rift is full. Outcomes can be launched when accessible.
- Encouraging Magnetic Information: A number of anomalies inside the mission space will increase probability of discovery success.
Administration Staff
James Sykes – CEO
James brings greater than 15 years of mineral exploration and discovery expertise to the workforce, most notably from outstanding roles in high-grade uranium and uncommon earth aspect successes. Over the previous decade, he has been instantly and not directly concerned with the invention of over 500 M lbs. of U3O8 within the Athabasca Basin, northern Saskatchewan, having helped generate billions of {dollars} in shareholder appreciation. James can also be the CEO, President and Director of Baselode Power Corp., the place they made a brand new uranium discovery, ACKIO, with the corporate’s first drill program.
Stephen Stewart – Chairman and Director
Stephen Stewart is the CEO, and Director of Orefinders Assets Inc. and QC Copper & Gold, each TSX Enterprise listed firms, whereas additionally being a Director of Mistango River Assets, a CSE-listed firm. He’s additionally Managing Accomplice of Minvest Companions; a non-public group centered on pure useful resource discovery and improvement. He’s the Founder and Chairman of the Younger Mining Professionals Scholarship Fund, the biggest mining-focused charitable group and fund, supporting mining engineering and geology training in Canada. Stewart holds a Bachelor of Arts from the College of Western Ontario, a Grasp of Enterprise Administration from the College of Toronto’s Rotman Faculty of Administration and a Grasp of Science from the College of Florida.
Charles Beaudry – Director
Charles is a P.Geo with over 30 years of expertise in mission technology, enterprise improvement, exploration chemistry and hands-on mission administration. Charles beforehand held the place of Basic Supervisor of latest enterprise alternatives with IAMGOLD Company from 2008 till 2009, after having spent almost 17 years in numerous capacities for Noranda-Falconbridge-Xstrata, together with as nation supervisor of Brazil from 1996 to 2001 and supervisor of the Frieda River Undertaking from 2005 to 2006. He holds a Bachelor of Science in Geology from the College of Ottawa and a Grasp of Geology from McGill College.
Alexander Stewart – Director
Alexander Stewart has over 40 years of expertise within the observe of company and securities regulation and pure useful resource funding. He has been a director of quite a few public firms on numerous exchanges together with Nasdaq, NYSE, TSX and TSXV. For the final fifteen years, he has centered solely on the mining and metals sector and has been instrumental in sourcing, funding and growing high-quality mineral belongings in North and South America. Previously, he was the founder, seed financier and principal behind a lot of mining tasks together with the Cote Lake Undertaking, acquired by IAMGOLD in 2012 for over C$580m and the Eagle One polymetallic mission now owned by Noront Assets. He holds a Bachelor of Arts diploma from the College of Western Ontario, a Juris Physician diploma from the College of Toronto Regulation Faculty and a Diploma, LCE, from the College of Madrid.
Kevin Canario – CFO
Kevin Canario is a finance skilled with over 15 years of expertise working within the mining trade. Most lately as a Company Controller of Battle North Gold Company the place he joined in February 2019 and was instrumental within the finalization of the feasibility research and concerned in a number of financings for the event and eventual sale of the Bateman Gold mission. Previous to this, Kevin was the CFO of INV Metals Inc. and labored at PricewaterhouseCoopers LLP for five years inside the mining assurance observe managing audits for quite a lot of publicly listed shoppers starting from small exploration to massive multi-asset operations. Mr. Canario holds a CPA, CA and Honours Bachelor of Commerce from McMaster College, Canada.
Mike Sweeny – VP Exploration
Mike Sweeny is knowledgeable geologist (P.Geo) with over 30 years of expertise and a robust concentrate on nickel, copper and platinum group aspect (“Ni-Cu-PGE”) minerals techniques. Beforehand he held numerous positions, together with Senior Geologist, for quite a few underground and floor exploration applications with Falconbridge-Xstrata-Glencore. He performed main roles within the discoveries of the Onaping Depth Deposit (at the moment in improvement), Fraser Morgan Deposit (at the moment in manufacturing), and was part of the exploration workforce that found the latest Ni Rim Depth and Norman West Footwall deposits, for a mixed complete near 65 million tonnes of nickel and copper sources. Mike has intensive expertise in managing and designing underground and floor exploration applications from grassroots discovery to definition drilling resulting in manufacturing. He began his profession with the Ontario Geological Survey centered on the Lac des Iles PGE deposit, Thunder Bay space, NW Ontario. He holds a Grasp of Geology from Western College.
