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Matthew Gordon spoke with Grant Mourre the president and CEO of SPC Nickel Corp. (TSX-V: SPC) to discuss the company’s recent activities.
SPC Nickel Corp. is a Canadian exploration company, primarily focused on the exploration and advancement of its 100% owned exploration projects, the Aer-Kidd - and Lockerby East projects both located in the Sudbury Mining Camp. The company also holds the option to acquire a 100% interest in the Janes project, which lies approximately 50 km northeast of Sudbury in Ontario.
The company recently announced that it had concluded with the Special flow-through unit portion of its previously announced non-brokered private placement offering. The second and final tranche of the offering saw the company issue a total of 10,740,713 Special FT Units of the company at CAD$ 0.15 per unit, which led to a total amount of CAD$ 1,611,106.95 in proceeds to the company. A unit consisted of one flow-through common share of the Company and one half of one share purchase warrant, which entitles the holder to purchase one additional common share of the company for a period of 18 months from closing at $0.18. The first tranche of the non-brokered private placement offering consisted of issuing an aggregate of 11,980,000 FT units of the company at CAD$ 0.13 per FT Unit resulting in CAD$ 1,557,400 in proceeds to the company. The total amount of proceeds received by the company through both tranches of the offering is CAD$ 3,168,506.95.
The company plans on implementing the funds towards the exploration of its nickel properties in Ontario and Nunavut. The company will conduct 4,200 m of exploration drilling at its Lockerby East project, 30 km of line cutting at its Janes project and the permitting of its Muskox project for the planned 2022 and 2023 field seasons including target generation.
0:00 - Company Overview
0:31 - Grant Moore’s Background
1:52 - SPC Nickel’s Assets Overview
2:54 - Project Plans for 2022
4:59 - Upcoming Infill Drilling in 2022
6:12 - Effects of Doing Economic Studies in Scaling
7:04 - Budget Allocated to Infill Drilling Program
7:30 - Plans for Expansion and Step-Out Drilling
8:33 - Upcoming Step-Out Drilling Discussions
10:36 - Expectations in Upcoming Resource Update and its Time of Delivery
13:13 - Goal of Going into Production
14:30 - Proper Timing in Starting Conversations
15:34 - Aer-Kidd Exploration Project Overview
17:37 - Working around Cash Constraints in Advancing Multiple Projects
19:26 - Getting the Story out to the Market and Gaining Attention
24:28 - Deal Structure of the Muskox Project
27:04 - Major Shareholders of the Company
28:18 - Picking up the Pace going into Production
30:26 - Outro
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