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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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Marketwire
- Article date:
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July 3, 2008
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Copyright informationCopyright 2008 Marketwire. Provided by ProQuest LLC. (Hide copyright information)
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TORONTO, ONTARIO--(Marketwire - July 3, 2008) - 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 recovery assuming average metal ...