Nickel futures have exploded by 2.94% this morning to a new 10-year high of $21,365.23 per tonne.
SPC Nickel (TSXV: SPC) is about to explode from its current price of $0.18 per share where it has a market cap of only $18.395 million. SPC has $5.34 million in cash for an extremely low enterprise value of $13.06 million. Not only does SPC own the AER-KIDD nickel project containing three past producing nickel mines across a 1.5km strike directly in between North America's two most valuable nickel deposits VALE's Totten and KGHM's Victoria, but SPC also owns the nearby Lockerby East nickel project a property that hosts both the Lockerby East deposit and the West Graham deposit.
SPC's Lockerby East deposit is a high-grade nickel deposit containing an indicated 0.18 million tonnes of 2.32% nickel and 0.87% copper. SPC's West Graham deposit is a near-surface nickel deposit containing an indicated 8.55 million tonnes of 0.45% nickel and 0.31% copper plus an inferred 2 million tonnes of 0.38% nickel and 0.30% copper.
SPC's newest nickel project is the Janes Ni-Cu-PGM Project where in 2021 drill hole JP-21-001 intercepted 10.5m of 3.15% nickel equivalent beginning 1m downhole, drill hole JP-21-002 intercepted 6.65m of 3.23% nickel equivalent beginning 1.85m downhole, drill hole JP-21-003 intercepted 6.62m of 2.61% nickel equivalent beginning 1.88m downhole, drill hole JP-21-008 intercepted 8m of 1.55% nickel equivalent beginning 19m downhole, drill hole JP-21-009 intercepted 9.25m of 1.34% nickel equivalent beginning 4.25m downhole, drill hole JP-21-010 intercepted 26.6m of 1.73% nickel equivalent beginning 2.9m downhole, drill hole JP-21-011 intercepted 16.4m of 1.81% nickel equivalent beginning 2.6m downhole, drill hole JP-21-012 intercepted 21m of 1.03% nickel equivalent beginning 3m downhole, drill hole JP-21-013 intercepted 11.70m of 1.45% nickel equivalent beginning 6.50m downhole, and drill hole JP-21-014 intercepted 24m of 1.21% nickel equivalent beginning 3m downhole.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. This message is meant for informational and educational purposes only and does not provide investment advice.