Power Nickel's CEO on "the least expensive high-grade nickel sulfide exploration play in the world"
Channel: InvestorCoffee
Date: 2024-03-11

In a compelling interview at PDAC 2024, Tracy Weslosky of InvestorNews caught up with Terry Lynch, CEO of Power Nickel Inc. (TSXV: PNPN | OTCQB: PNPNF), to discuss the company's progress and the promising outlook of their operations. Power Nickel, a Canadian junior exploration company, is on a dedicated mission to develop the High-Grade Nisk project into Canada's first Carbon Neutral Nickel mine. The company, which has successfully exercised options to increase its ownership in the Nisk project up to 80%, is looking forward as  the next commitment is the delivery of a NI-43-101 Technical report.

Lynch emphasized the technical aspects of the company's recent strides, highlighting a major nickel sulfide discovery at the NISK site, with an initial NI-43-101 report showing 7.2 million tons. He detailed the exploration plans for 2024, noting that drilling has already yielded promising hits. Lynch expressed strong confidence in the exploration prospects, predicting significant growth potential for the project. He drew comparisons with other notable locations, stating, "We think Lynn Lake with 22 million tons and Voisey's Bay with 140 million tons are indicators that we will be somewhere between there and who knows how big this thing can be."

He also explained why Quebec is a prime location for exploring critical minerals, citing three major reasons: the pre-existing infrastructure, the province's positive relationship with the First Nations, particularly the James Bay Cree, and the attractive fiscal incentives that effectively double the investment capital for exploration and development.

The interview further explored the nuances of the nickel market, where Lynch gave insights into the recent fluctuations and the differentiation between markets within the industry. He remarked on the resilience of nickel demand, despite challenges such as the pandemic and its impact on China's real estate market. Lynch pointed out the importance of North American Class 1 nickel and the strategic advantage Power Nickel holds, supported by recent investments like Samsung's in Canada Nickel, which underscore the market's demand for such resources.

The conversation then shifted to the public's perception and understanding of Power Nickel. Lynch expressed a wish for greater awareness of the company's value, emphasizing its position as "the least expensive high-grade nickel sulfide exploration play in the world" and outlined the significant advantages of their potential mining operations in terms of cost and returns. As for the future, Lynch assured that Power Nickel will maintain its commitment to transparency, with upcoming updates on drilling, assays, and a feasibility study that promises to increase nickel recovery rates significantly and add value through the production of iron powder, a by-product of their unique refining process. 

The recent news release on March 4, 2024, aligns with Lynch's discussion, announcing a new discovery within the Nisk project that enriches its prospects. Power Nickel reported further drilling successes, notably intersecting a high-grade PGM (Platinum Group Metals) rich zone, potentially adding significant value to the project. This discovery came from hole PN-24-047, which followed up on the notable Wildcat high-grade PGM intersection and is set to be the basis for a more comprehensive understanding of the mineralization's extent. Kenneth Williamson, Power Nickel's VP of Exploration, reflected on this progress with optimism in this news release, stating, "We are even more encouraged to extend what appears to be a very high-grade PGM rich zone laterally from the initial discovery."

Lynch's interview and the news release both highlight Power Nickel's proactive approach to exploration, and the technical advancements the company is making. With the expansion of the historical high-grade nickel-copper PGE mineralization at Nisk, Power Nickel is steadily positioning itself to become a key player in the nickel industry, as it works towards expanding the known high-grade zones and uncovering new potential deposits within its significant land holdings.

#Nickel #CriticalMinerals #PDAC2024 #BatteryMaterials #BatteryMetals