Mark Selby

Crawford nickel sulfide project

Mark Selby, CEO of Canada Nickel, advancing the Crawford nickel sulfide deposit to a construction decision later this year

It's the largest nickel sulfide district in in in the world

unlocking the world's largest nickel sulfide district with the Timmans nickel district

all through 2025, uh, you know, we went from effectively two resources um, you know, at the end of 2024 to having eight separate resources

we've got three or four other deposits that we can tell based just on the geometry um and the kind of mineralization we're seeing that we think will be be higher value than Crawford. you know, reed is a third is is is sorry, half the strip ratio, uh about a third less overburden than than Crawford and has about 15% chromium

we now have more than 20 million tons contained nickel in the ground

you know what because I'm what I'm trying to understand as investor is like right okay here's here's a company with a kind of big capex play with a big NPV you know nearly three billion bucks NPV8 numbers

that's 60% of the equity capital we need to get the project.

we're solving for $300 million dollars. And within the capital stack the debt... the equity is the key question and you know 600 million of the billion is you know we qualify for two refundable tax credit programs

series of government funding envelopes that are available you know that will provide you know our shareholders with you know uh a lot of equity non-dilutive you know financing support uh from here to a production decision

we're having an entire office that's going to be funded by $200 million of government money.

You know, that's something, you know, hopefully by September, October is being a position uh to announce

we're getting going now with Scotia and Deutsche Bank

Um so we're now back in in in with export devel Canada to start that next phase of the negotiations around the debt. We got the letter of intent a few years ago. We've now completed the independent engineer review that went very well.

we have Samsung SDI there to buy 10% of the project for hund00 million US... within the capital stack the debt you know again we've had some LOI with with different agencies and we've got good visibility on that

if we get a permit in early summer, we'll be the first mining project to get a permit underneath the 2019 legislation.

Crawford will be our first um but we've got three or four other projects that will ultimately be our best.

Uh so for us it's been four years

we're basically in a position to be able to make a construction decision, you know, by the end of the year with the permitting, engineering, funding package uh in place

we were going to be breaking ground by by, you know, the end of next year.

you'll see, you know, a number of financing announcements um you know, from the different bits and pieces that do with a view to having the package in place by by by mid year.

construction decision probably sometime in late Q3 Q4 early Q4 with a view of getting shovels in the ground in Q4.

then issues us the permit sometime, you know, uh in early summer.

we will, you know, start to see provincial permits flow through the second half of the year

we expect to get our main federal permit by mid mid this year

look to get that main permit um in the in the in the new year

we're basically in a position to be able to make a construction decision, you know, by the end of the year... seasonality. We have to do it either by January or wait 9 months uh until September, October

we want to target to be shovels in the ground um by year end

to be in a position where we should hopefully be in production just over eight years um after that fifth drill hole

we got the uh impact assessment report. Um so that uh they published draft permit conditions as part of that. So there's a there's a consultation period for 30 days

Last time we talked was right after we got the 1P1P endorsement from the Ontario government. And so as the only project in Canada that's both got a federal and provincial endorsement.

we were uh named uh to the one project, one process uh envir permitting uh framework from the Ontario government

we were in position to be referred to the major projects office, you know, which we were back back in November

We're the first mining project in Canada underneath the 2019 legislation to reach the stage

advancing the Crawford Nickel Sulfide project uh to construction uh by the end of 2026 and unlocking the Timmins Nickel District

we can take, you know, the lowerc cost, very lowcarbon energy grid we have in Ontario.

You know, go get Samsung to exercise their option.

we have half a dozen guys that we've been working with since the feasibility study

we've talked about the fact that it'll be much lower strip ratio. Um there's much less overburden. Um it's more consistently serentized

we produce a nickel product you know that'll go into a final nickel product that'll go into the steel or battery industry

We've got at Anglo-American, Agniko Eagle, Samsung SDI, and then one of the First Nations community took 20 million of their own capital uh to invest in the company

Samsung remains uh equally keen. you know, there's there's we're we're we're really now one of the only projects that can come online before 2030.

you know, there's like there's about three of us that, you know, can conceptually get there.

one of the First Nations community took 20 million of their own capital uh to invest in the company