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KRO Profile
Price:$0.500  Open Rec:See Strategy
Market Cap:$106,928,932  WC % of Mkt Cap:14%
Working Cap:$15,324,230  As of:12/31/2021
Issued:213,857,863  Insider %:42.2%
Diluted:230,107,863  Story Type:Resource: Feasibility Demonstration
Key People:Martin Turenne (CEO), Peter M. D. Bradshaw (Chair), J. Christopher Mitchell (CFO),
SV Rating: Bottom-Fish Spec Value - Favorite - as of December 6, 2021: FPX Nickel Corp is a Good Spec Value rated Favorite at $0.50 as of December 31, 2021 based on the economic implications of a PEA completed in September 2020 which proposes to open pit mine the Baptiste deposit on the 100% owned Decar property in central British Columbia at a rate of 120,000 tpd for a 35 year mine life to produce an average 99 million lbs of nickel annually in the form of a 60%-65% ferro-nickel concentrate shipped directly to stainless steel makers. CapEx and life of mine sustaining capital were estimated at USD $1.67 billion and $1.1 billion with AISC of $3.12 per lb nickel. At a base case price of USD $7.75/lb nickel and 8% discount rate the PEA indicated an after-tax NPV of USD $1.72 billion, clearing the development hurdle where NPV should match or exceed CapEx, and an after-tax IRR of 18.3% which is sufficient for such a long-lived mine. Based on 231.6 million shares fully diluted, 100% net interest and a CAD:USD exchange rate of 1.25 this NPV translates into a future price target of $9.28. In April 2021 FPX raised sufficient capital to fund delivery of a PFS by mid 2023. The reason the stock price represents Good Speculative Value is because no nickel deposit consisting of 1.5 billion tonnes at an average grade of 0.122% nickel has ever been put into production. FPX Nickel Corp is a fabulous opportunity for any speculator who can understand why the Decar project is very different from every other nickel mine. The secret is in the nature of the grade, which is based on the Davis Tube Recovery assaying method which measures only the portion of a rock's nickel content that is recoverable through magnetic separation at a specified minimum grind size. At Decar the host rock is an ultramafic ophiolite body that has been serpentinized in a manner where ni...(see Profile for full Overview)
Last Corporate Change - Aug 25, 2017: 1:1 Name Change from First Point Minerals Corp (FPX-V)
Last KRO Comment - Jan 18, 2022: Tracker: Spec Value rating for FPX Nickel Corp
Recent News - Jun 21, 2022: Executes Development Memorandum of Agreement with Indigenous Partner Binche Whut'en for the Decar Nickel District in Central British Columbia
  Project Interest   Country Region Stage IPV
($mm)
Target Deposit
Model
Decar 100% WI Canada Central BC 6-Prefeasibility $115 Nickel Ultramafic Complex
Mich 100% WI Canada Whitehorse 2-Target Drilling $115 Nickel Ultramafic Complex
Klow 100% WI Canada Central BC 3-Discovery Delineation $115 Nickel Ultramafic Complex
Wale 100% WI Canada Northern BC 2-Target Drilling $115 Nickel Ultramafic Complex
Orca 100% WI Canada British Columbia 3-Discovery Delineation $115 Nickel
 

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