Higher nickel prices and an increase in resources combined to increase the value of the Bucko nickel project in Manitoba, an updated feasibility study says.
The study for owner Crowflight Minerals (CML-V) puts the net present value of the deposit at $201 million, using an 8% discount rate and assuming a nickel price of US$8 per lb.
The project now has a reserve of 2.3 million tonnes grading 1.84% nickel. The capital cost of the project would be $66 million, and it would produce 1,000 tonnes ore per day. Its annual nickel production would be 5,700 tonnes (12.5 million lb.) at a cash cost of US$7,850 per tonne (US$3.56 per lb.).
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