Canadian Mining Journal

News

NICKEL STUDY: Economics improve at Minago project

MANITOBA - While working on the feasibility study for its 100-% owned Minago nickel project, Toronto-based Vic...



MANITOBA – While working on the feasibility study for its 100-% owned Minago nickel project, Toronto-based Victory Nickel has tweaked its financial model and increased the internal rate of return (IRR) to 19.8% (up from 17.7% six months ago) and its net present value to $487.6 million (a gain of $85 million). Undiscounted cash flow will top $1 billion, according to the company.

Victory Nickel recently entered into an agreement to purchase refurbished electrical equipment for the main 230 kV/13.8 kV substation, the main electrical switch room and seven 13.8 kV/600 V unit substations for the process and service centres for the Minago mine site. Early installation of electrical capacity will reduce costs during the construction period. The company also saved 54% by purchasing refurbished equipment rather than new as originally planned.

Mineral resources at the Minago project, as well as the Lynn Lake, Lac Rocher and Mel deposits, are posted at www.VictoryNickel.com.


Print this page

Related Posts



Have your say:

Your email address will not be published. Required fields are marked *

*