TSX-V-listed Canada Nickel on Wednesday announced several new management appointments and a $12-million bridge facility with Auramet International, as the company continued to advance its Crawford nickel/cobalt sulphide project in the Timmins-Cochrane mining camp.
CEO Mark Selby noted that the feasibility study for Crawford would be announced later this month and that the new management appointments were in anticipation of advancing the project towards a construction decision by mid-2025.
Desmond Tranquilla has joined Canada Nickel as VP of projects. He has been supporting the Crawford project on a part-time consulting basis through the feasibility study process and has hands-on knowledge of the company’s projects.
Chris Chang joined the company as VP corporate development, after supporting the activities on a part-time basis since 2022.
Christian Brousseau, who joined Canada Nickel in 2020, assumes a new role as VP innovation and technical services and will continue to lead the company’s work on IPT Carbonation. Under his leadership, IPT Carbonation has advanced from concept to feasibility-study-level design in just 13 months. He will also oversee other innovation initiatives targeting the multiple ultramafic deposits in Canada Nickel's Timmins nickel district. After completing the preliminary economic assessment for the Crawford project, Brousseau launched the feasibility study and has been leading the development of the IPT process since 2022.
“I am very pleased that we have been able to attract outstanding professionals like Des Tranquilla and Chris Chang to join our team on a full-time basis,” said Selby.
Canada Nickel also unveiled that long-time financing partner Aurament would provide a $12-million bridge facility, allowing the company to remain well funded as it advanced permitting and detailed engineering activities.
The loan will be due on December 15, 2023, and will carry an interest rate of 1$ a month and is subject to a 2.3% arrangement fee.
The Crawford project would have a mine ore production capacity of 275 000 t/d and a mill ore input capacity of 120 000 t/d. The project would operate for about 43 years.