First Nickel Inc.

Published : September 06th, 2007

2007 Update

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
======================================================================
Re: News Releases - Thursday, September 06, 2007
First Nickel 2007 Update
======================================================================

September 6, 2007 -- Toronto, Ontario -- First Nickel Inc. (FNI-TSX) is
pleased to provide an update and revised outlook on its operations.

Production at the Lockerby Mine is currently from stopes on the 64
level and the 35-1 level in the Depth and East zones, respectively. The
main ramp on the Depth is 50m from the 65 Level where most of 2008
production has been scheduled. Production has continued to ramp up,
with an estimate of 12,857 tonnes shipped to Strathcona Mill at an
estimated grade of 1.86% Ni for August. The mine is now targeting
13,500 tonnes per month for the balance of the year, a rate which is in
excess of the original plan. This will lead to full year output of
136,100 tonnes, or 90% of the original forecast of 152,000 tonnes.
Payable nickel is estimated at 3.9 million pounds compared to the
original forecast of 4.7 million. The difference is largely
attributable to the decision taken earlier in the year to mine lower
grade ore at the start of production on the 64 Level which was ore that
would have otherwise been abandoned, and also allowed for the
development of the western portion of the 64 Level and the continuation
of the main ramp toward the 65 Level without interruptions to
production.

Drilling continues to define and extend the resources in the Depth
orebody, as well as investigating opportunities for short term
production and development in areas adjacent to existing
infrastructure. Exploration targets identified in the upper portion of
the Lockerby orebody will be tested later in the year from underground
and surface drill platforms. Updates on these activities are expected
later in the Fall as program results are received.

Engineering studies that will lead to a new life of mine plan along
with the economic evaluation of the proposal to extend one of the
surface shafts were launched in the summer. A prefeasibility level
report should be available by the end of Q4.

Work is continuing on the Premiere Ridge project to tighten up the
capital and operating estimates and optimize the off-take agreement
with Xstrata Nickel in order for the Company to make a production
decision later this Fall.
"I am very pleased to see the progress and continued improvement in our
operating performance at Lockerby," states William Anderson, President
and CEO of First Nickel. "Our people have been working hard to increase
production levels and lower costs. With the mine now providing a steady
cash flow, coupled with excellent drill results, the mine is starting
to match our expectations, and with more hard work and dedication, is
set to become the operation we knew it could be."

Joseph Del Campo, the Company's Chief Financial Officer, adds, "the
Company has a healthy balance sheet and treasury, and combined with
current cash flow can easily meet all of its short term funding
requirements for capital and exploration. Therefore, there is no
immediate need to access the capital markets in the current volatile
environment. In addition, I wish to emphasize that we have zero
exposure to any form of commercial paper instruments."
Paul Davis, P.Geo., Vice President Exploration of First Nickel Inc., is
the designated "qualified person" as defined by National Instrument
43.101 and responsible for the verification and quality assurance of
First Nickel's exploration data and analytical results. Samuele
Renelli, P.Eng., Lockerby's Chief Mine Engineer, oversees mine
engineering activities on behalf of First Nickel Inc.

First Nickel is a Canadian mining and exploration company. Its current
activities are primarily focused on the Sudbury Basin in northern
Ontario, the location of the company's producing property (the Lockerby
Mine) and four of its exploration properties. First Nickel also has
two exploration properties in the Timmins region of northern Ontario.
First Nickel's shares are traded on the TSX under the symbol FNI.

This news release may contain forward-looking statements, which are
subject to certain risks, uncertainties and assumptions. A number of
factors could cause actual results to differ materially from the
results discussed in such statements, and there is no assurance that
actual results will be consistent with them. Such forward-looking
statements are made as at the date of this news release, and the
company assumes no obligation to update or revise them, either publicly
or otherwise, to reflect new events, information or circumstances,
except as may be required under applicable securities law.


For further information contact:
First Nickel Inc.
William Anderson, President & CEO
Telephone: (416) 362-7050
Fax: (416) 362-9050
Email: wanderson@firstnickel.com

======================================================================
Copyright (c) 2007 FIRST NICKEL INC. (FNI) All rights reserved. For
more information visit our website at http://www.firstnickel.com/ or
send mailto:info@firstnickel.com
Message sent on Thu Sep 6, 2007 at 11:39:23 AM Pacific Time
======================================================================
.

First Nickel Inc.

DEVELOPMENT STAGE
CODE : FNI.TO
ISIN : CA33582W1068
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

First Nickel is a nickel exploration company based in Canada.

First Nickel develops nickel, cobalt, copper, gold, palladium, platinum and silver in Canada, and holds various exploration projects in Canada.

Its main assets in development are LOCKERBY MINE and PREMIERE RIDGE in Canada and its main exploration properties are RAGLAN HILLS, LANDORE/ WEST GRAHAM, MORGAN-LUMSDEN, BELMONT PROJECT, WEST GRAHAM, FOY MOUTH, KAMISKOTIA and DUNDONALD in Canada.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Financings of First Nickel Inc.
3/12/2015Completes Debt Refinancing
3/11/2015FNI Announces Approval by Shareholders of Debt Refinancing a...
4/8/2013Completes Refinancing
9/12/2011Hires New President & CEO and Announces $500,000 Private Pla...
3/2/2011Secures Commitments for C$30 Million Senior Secured Project ...
Nominations of First Nickel Inc.
10/3/2013Names Alfred Colas as Chief Financial Officer
2/4/2013Announces Changes to the Board of Directors With the Appoint...
7/3/2012Appoints David Comba as New Chairman
4/29/2008Gerry Bilodeau Appointed as Vice President Operations
Financials of First Nickel Inc.
3/26/2015Reports Financial and Operating Results for the Year Ended D...
8/12/2013Reports Three and Six Months Financial and Operating Results...
5/15/2013Reports First Quarter 2013 Financial and Operating Results
11/13/2012Reports Third Quarter 2012 Financial and Operating Results
8/14/2012Reports Second Quarter 2012 Financial and Operating Results
5/16/2012Reports First Quarter 2012 Financial and Operating Results
8/11/2011Reports Financial and Operating Results for the Period Ended...
5/30/2011Reports Financial and Operating Results for the Period Ended...
3/30/2011Reports Financial and Operating Results for the Year Ended D...
11/11/2008Reports Financial And Operating Results For The Three And Ni...
5/14/2008Reports Financial and Operating Results for the Three Month ...
3/27/2008 Reports Financial And Operating Results For The Year Ended ...
11/14/2007 Reports Third Quarter 2007 Results
Project news of First Nickel Inc.
5/6/2014First Nickel says two workers dead at Sudbury mine
1/3/2013Reports Lockerby 2012 Nickel Production is Expected to Be Ap...
8/3/2012(Lockerby Mine)Files Optimized Lockerby Mine Plan with SEDAR
6/18/2012(Lockerby Mine)Optimizes Lockerby Mine Plan, Resulting in an $87 Million NP...
11/7/2008(West Graham)Provides an Exploration Update on Lockerby and West Graham P...
7/3/2008(Lockerby Mine)Announces the Results of the NI 43-101 Reserve Estimate and ...
6/30/2008(Premiere Ridge)Announcement Re Premiere Ridge
3/25/2008(West Graham) Intersects 86.70 Metres of 0.55% Ni and 0.43% Cu on West Gr...
1/16/2008(Lockerby Mine) Reports 289% Increase in Indicated Resources at the Lockerb...
12/11/2007(Raglan Hills)Sign Joint Venture on Raglan Hills Project
11/1/2007(Lockerby Mine)Nickel Production Increasing Additional Promising Lockerby D...
7/23/2007(Lockerby Mine)Intersects 53.30 Metres of 1.82% Ni and 1.39% Cu at Lockerby...
Corporate news of First Nickel Inc.
8/27/2015TSX Delisting Review - First Nickel Inc. (Symbol: FNI)
8/20/2015First Nickel Announces Appointment of Receiver
8/20/2015TSX Delisting Review - First Nickel Inc. (Symbol: FNI)
8/20/2015First Nickel Announces Application for Appointment of Receiv...
8/20/2015IIROC Trading Halt - FNI
8/20/2015First Nickel Reports Financial and Operating Results for the...
8/14/2015First Nickel Reports Financial and Operating Results for the...
8/4/2015First Nickel Reports Incident at Lockerby Mine
8/3/2015First Nickel Reports Incident at Lockerby Mine
7/20/2015First Nickel Announces Change to Board of Directors
7/17/2015First Nickel Announces Change to Board of Directors
6/22/2015Results of the FNI Annual General Meeting of Shareholders
3/26/2015FNI Reports Financial and Operating Results for the Year End...
3/26/2015First Nickel Reports Financial and Operating Results for the...
3/12/2015FNI Completes Debt Refinancing
3/11/2015FNI Announces Approval by Shareholders of Debt Refinancing a...
3/2/2015Leading Independent Advisory Firms ISS and Glass Lewis Recom...
3/2/2015Leading Independent Advisory Firms ISS and Glass Lewis Recom...
2/9/2015IIROC Trade Resumption - FNI
2/9/2015First Nickel Announces Debt Refinancing
2/9/2015IIROC Trading Halt - FNI
1/27/2015First Nickel Provides Preliminary 2014 Production Results an...
1/12/2015First Nickel Restructures the Lockerby Mine, Reducing Costs ...
1/12/2015First Nickel Restructures the Lockerby Mine, Reducing Costs ...
11/11/2014FNI Reports FInancial and Operating Results for the Three an...
11/10/2014First Nickel Reports Financial and Operating Results for the...
8/11/2014First Nickel Reports Financial and Operating Results for the...
6/11/2014Results of the FNI Annual General Meeting of Shareholders
5/12/2014First Nickel Reports Financial and Operating Results for the...
5/8/2014First Nickel Reports the Lockerby Mine Will Resume Operation...
5/6/2014First Nickel Provides Update on Lockerby Accident
5/6/2014First Nickel Reports Two Fatalities at the Lockerby Mine
5/6/2014IIROC Trade Resumption - FNI
5/6/2014First Nickel Reports Incident at the Lockerby Mine
5/6/2014IIROC Trading Halt - FNI
3/21/2014FNI Reports Financial and Operating Results for the Year End...
3/21/2014First Nickel Reports Financial and Operating Results for the...
3/19/2014FNI Positioned to Benefit from Higher Nickel Prices
9/27/2013FNI Amends Lockerby Ore Processing Agreement
7/10/2013Reports 4 Year Contract Ratified with Mine Mill 598/CAW
6/12/2013Results of the FNI Annual General Meeting of Shareholders
4/18/2013(Lockerby Mine)FNI Achieves Full Production at Lockerby Mine
4/1/2013Announces Restructuring of Indebtedness
1/16/2013FNI Arranges US$5.0 Million Loan Facility
10/19/2012Reports Lockerby Nickel Production at 80% of Full Production...
4/24/2012Provides Comment on Ministry of Labour Order
3/23/2012Announces Increase to 2012 Exploration Program
1/25/2012Announces Continued Progress at Lockerby in Q4-2011 and Prov...
12/14/2011Announces Organizational Changes
12/5/2011Hires New Head of Corporate Development
7/20/2011Completes $5 Million Private Placement
7/5/2011Enters Into C$30 Million Project Loan Facility
5/18/2011Announces $2 Million Flow-Through Private Placement
4/25/2011Provides Update on Lockerby Restart
5/6/2008Establishes Shareholder Rights Plan
4/30/2008Market Update Announcement
2/12/2008Provides 2008 Guidance
9/6/20072007 Update
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (FNI.TO)
0.005+0.00%
TORONTO
CA$ 0.005
09/25 15:47 -
0%
Prev close Open
0.005 0.005
Low High
0.005 0.005
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.005 -50.00%
Volume 1 month var.
90,000 -50.00%
24hGold TrendPower© : -2
Produces
Develops Cobalt - Copper - Gold - Nickel - Palladium - Platinum - Silver
Explores for Cobalt - Copper - Gold - Lead - Nickel - Platinum - Silver - Uranium - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 12/4/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.05-0.84%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 7.04-1.81%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.70-2.91%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.08-21.05%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 1.97+4.79%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 9.41+2.84%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.18-5.41%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.32+3.23%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.30+0.88%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 62.20+1.58%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+12.00%Trend Power :