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First Nickel Announces the Results of the Ni 43-101 Reserve Estimate and Mine Plan Prefeasibility Study Completed on Lockerby Depth Zone; - Probable Mineral Reserves of 1.84 million tonnes grading 1.69% Ni, 1.16% Cu and 0.06% Co - Estimated Net Cash Flow of $78.20 million over project life - 69.3% Internal Rate of Return ("IRR") - Net Present Value ("NPV") of $47 million at a 10% discount rate.
- Article from:
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Canadian Corporate News
- Article date:
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July 3, 2008
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Copyright informationCOPYRIGHT 2008 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TORONTO, ONTARIO, Jul 3, 2008 (Marketwire via COMTEX) -- First Nickel Inc. ("First Nickel" or the "Company") (TSX:FNI) is pleased to announce that it has received the final report of the Prefeasibility Study ("Study") on the development and mining of the Lockerby Depth from Genivar Limited Partnership ("Genivar"), a consulting engineering firm based in Quebec City, Quebec.
First Nickel will hold an investor update conference call to discuss the mine plan and pre-feasibility study on the Lockerby Depth Zone today at 10:30 ET.
The Study indicates that the project has an IRR of 69.3% and would generate an undiscounted pre-tax cash flow of $78.20 million after capital ...