Victory Nickel's Ken Murdock Discusses Plans for Victory Silica's Entry Into Frac Sand Market
Published : June 26, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Equity Markets | Market | Nickel | Oil | Shale Oil | Silica | Storage |

TORONTO, ONTARIO--(Marketwire - June 26, 2012) - Further to the announcement of June 19, 2012, Victory Nickel Inc. ("Victory Nickel" or the "Company") (News - Market indicators) (www.victorynickel.ca) today provided additional discussion on the proposed activities of its newly-created subsidiary Victory Silica Ltd. ("VSL") by VSL's CEO Ken Murdock.

Victory Nickel's objective is to establish its presence in the frac sand market through VSL prior to commencing frac sand production and sales from its 100%-owned Minago mine in Manitoba. The Minago feasibility study envisions production of up to 1.14 million tonnes per year of premium-quality frac sand from Winnipeg Formation sandstone.

"The goal is to become the preferred supplier of a full suite of import and domestic frac sand products to the Canadian market," said VSL CEO Ken Murdock. "As a first step we intend to produce premium-quality Midwest frac sand in Canada by shipping raw or partially processed sand from Wisconsin to an existing facility in Alberta. We see this as an opportunity to establish Victory Nickel as a premier frac sand supplier prior to beginning production from the 100%-owned Minago nickel project in northern Manitoba. Minago is destined to be a significant source of frac sand for many years. In addition to a large nickel deposit, the Minago open pit footprint alone contains approximately 11 million tonnes of API spec frac sand of various grades."

With the proliferation of shale oil and gas drilling and the adoption of horizontal drilling technology, demand for premium-quality frac sand imported from the Midwest United States has outpaced supply in northern markets. Combined with infrastructure constraints (rail capacity and a shortage of covered hopper rail cars which are necessary to ship fully-processed sand) it has become extremely difficult for frac service companies to access premium frac sand.

"In the frac sand business, it is important to build strong relationships with customers by proving you can deliver quality product in the quantities they want, when and where they want it," said Mr. Murdock. "We see the opportunity to add value by not only providing the products but by also streamlining frac sand logistics to meet the needs of our customers and provide the returns for our investors."

Initially, VSL intends to target opportunities in the Manitoba, Saskatchewan, Alberta and North Dakota Bakken formation and the Montney in British Columbia. Additional opportunities exist in the Eagle Ford shale in Texas, and the Marcellus and Ithaca formations in the northeastern US.

"To tap these opportunities, VSL brings several advantages," Mr. Murdock added. "Our first advantage is that I am bringing a seasoned operational team that is familiar with the Alberta facility and is excited to bring it back into production. Another advantage is that VSL will be the first producer of Midwestern frac sand in Canada. Ultimately, our suite of products will include both import and domestic sands. We will also add value for customers and investors through strategic relationships in transportation and distribution; this will minimize or eliminate costs for end users in the movement, transloading and storage of frac sand products. Locating our primary finishing facilities close to our markets in areas with a skilled labour force is also an advantage. Down the road, Minago is positioned to be a long-term source of cost-effective sand supply with excellent access to road, rail and power, and is positioned to be the frac sand producer closest to the developing Manitoba portion of the Bakken oil shale."

Annual and Special Meeting

As a reminder, the Company's Annual and Special Meeting for Shareholders ("ASM") will take place today, Tuesday June 26, 2012, at 4:00 p.m. Toronto Time at the Toronto Board of Trade, 1 First Canadian Place, Toronto, Ontario. The ASM will be webcast and can be accessed at http://www.gowebcasting.com/3407 and through Victory Nickel's website at www.victorynickel.ca.

About Victory Nickel

Victory Nickel Inc. is a Canadian company with four sulphide nickel deposits containing significant NI 43-101- compliant nickel resources. Victory Nickel is focused on becoming a mid-tier nickel producer by developing its existing properties, Minago, Mel and Lynn Lake in Manitoba, and Lac Rocher in northwestern Québec, and by evaluating opportunities to expand its nickel asset base. Through a wholly-owned subsidiary, Victory Silica Ltd., Victory Nickel is establishing a presence in the frac sand market prior to commencing frac sand production and sales from Minago. 

Please visit the Company's website at www.victorynickel.ca. Should you wish to receive Company news via email, please email juliet@chfir.com and specify "Victory Nickel" in the subject line.

Forward-Looking Information: This news release contains forward-looking information. All statements, other than statements of historic fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; the possibility that actual circumstances will differ from estimates and assumptions; uncertainties relating to the availability and costs of financing needed in the future; failure to establish estimated mineral resources; fluctuations in commodity prices and currency exchange rates; inflation; recoveries being less than those indicated by the testwork carried out to date (there can be no assurance that recoveries in small scale laboratory tests will be duplicated in large tests under on-site conditions or during production); changes in equity markets; operating performance of facilities; environmental and safety risks; delays in obtaining or failure to obtain necessary permits and approvals from government authorities; unavailability of plant, equipment or labour; inability to retain key management and personnel; changes to regulations or policies affecting the Company's activities; the uncertainties involved in interpreting geological data; and the other risks disclosed under the heading "Risk Factors" and elsewhere in the Company's annual information form dated March 30, 2012 filed on SEDAR at www.sedar.com. Forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.



Victory Nickel Inc.
Steve Harapiak
416.363.8527
416.626.0890 (FAX)
or
Victory Nickel Inc.
Rene Galipeau
416.363.8527
416.626.0890 (FAX)
admin@victorynickel.ca
www.victorynickel.ca
or
CHF Investor Relations
Juliet Heading
416.868.1079 ext. 239
416.868.6198 (FAX)
juliet@chfir.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Victory Nickel Inc.

DEVELOPMENT STAGE
CODE : NI.TO
ISIN : CA92647F1027
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

Victory Nickel is a nickel development stage company based in Canada.

Victory Nickel develops nickel and palladium in Canada, and holds various exploration projects in Canada.

Its main asset in development is MINAGO in Canada and its main exploration properties are MEL PROPERTY and LAC ROCHER SULPHIDE NICKEL in Canada.

Victory Nickel is listed in Canada. Its market capitalisation is CA$ 1.7 millions as of today (US$ 1.3 millions, € 1.2 millions).

Its stock quote reached its highest recent level on January 08, 2010 at CA$ 2.20, and its lowest recent point on January 29, 2016 at CA$ 0.01.

Victory Nickel has 57 640 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Victory Nickel Inc.
2007 Annual report
Financings of Victory Nickel Inc.
7/31/2013Announces Successful Rights Offering to Shareholders
7/31/2013Announces Successful Rights Offering to Shareholders
6/14/2013Announces Rights Offering to Shareholders
Nominations of Victory Nickel Inc.
8/7/2013Announces Changes to Board of Directors
6/19/2012Creates Victory Silica Ltd., Appoints Ken Murdock as CEO, In...
Financials of Victory Nickel Inc.
4/1/2015Announces Fourth Quarter and Fiscal 2014 Financial and Opera...
Project news of Victory Nickel Inc.
4/14/2015Temporarily Suspends Frac Sand Production
10/9/2013Subsidiary Victory Silica Progressing Toward Frac Sand Produ...
4/12/2012(Minago)Drilling Nickel Bearing Area South of Minago Sulphide Nickel...
4/4/2012(Minago)Drill Program Progressing at Minago Sulphide Nickel Project
9/19/2011(Minago)Receives Board Approval to Proceed With Development of Minag...
8/24/2011(Minago)Granted Environment Act Licence for Minago Sulphide Nickel M...
8/16/2011(Minago)Estimates 21 Million to 34 Million Tonne ETMI in Minago Nort...
8/8/2011(Minago)Identifies Western Extension of Nose Deposit at Minago
7/25/2011(Minago)Completes Reporting of North Limb Drilling at Minago Project
7/20/2011(Minago)Reports Further Positive North Limb Drilling at Minago Proje...
6/28/2011(Minago)North Limb Drilling Continues to Return Positive Results at ...
5/2/2011(Minago)Increases Minago Pit-Constrained Measured & Indicated Resour...
2/28/2011(Minago)Winter Work Program Underway at Victory Nickel's Minago Proj...
Corporate news of Victory Nickel Inc.
12/14/2015Victory Nickel Unsecured Note Holder Provides Notice of Defa...
11/26/2015Victory Nickel Announces Debt Restructuring Package
10/2/2015Victory Nickel Granted Extension for Delisting Review by the...
10/2/2015TSX Delisting Review - Victory Nickel Inc. (Symbol: NI)
8/14/2015Victory Nickel Announces Second Quarter 2015 Financial and O...
8/5/2015Victory Nickel Comments on Remedial Delisting Review Initiat...
8/5/2015TSX Delisting Review - Victory Nickel Inc. (Symbol: NI)
7/31/2015Victory Nickel Updates Secured Debt Status
7/2/2015Victory Nickel Announces Non-Payment of Quarterly Interest o...
6/29/2015Victory Nickel Announces Results of Annual and Special Meeti...
4/22/2015Announces Loan Extension
4/14/2015Victory Nickel Announces Receipt of Payment for Lynn Lake Pr...
4/14/2015IIROC Trading Halt - NI
4/6/2015Announces Receipt of Payment for Lynn Lake Project Option
4/6/2015Victory Nickel Announces Receipt of Payment for Lynn Lake Pr...
4/1/2015Victory Nickel Announces Fourth Quarter and Fiscal 2014 Fina...
3/25/2015Victory Nickel Announces Management Change
3/25/2015Announces Management Change
3/18/2015Victory Nickel's Bear Coulee Frac Sand Project Exceeds API S...
3/18/2015Bear Coulee Frac Sand Project Exceeds API Specs
2/25/2015Victory Nickel Provides Update and Outlook for Frac Sand Ope...
2/3/2015Victory Nickel Announces NI 43-101 Resource on Wisconsin Fra...
1/9/2015Victory Nickel Expands Its Wisconsin Frac Sand Supply Chain
11/14/2014Victory Nickel Announces Third Quarter and Nine Month Financ...
11/12/2014Victory Nickel Board Approves Proceeding with Phase Two of F...
11/4/2014Victory Nickel Options Lynn Lake Nickel Project to Corazon M...
10/29/2014Victory Nickel Adds Final Crew to Operate 24/7 at 7P Frac Sa...
10/2/2014Victory Nickel Options Wisconsin Frac Sand Property
9/12/2014Victory Nickel Announces Consolidation of Common Shares
9/5/2014Victory Nickel to Present at the 16th Annual Global Investme...
8/14/2014Victory Nickel Announces Second Quarter Financial Results
8/13/2014Victory Nickel Enters Into Sales Contract for 20% of 7P Plan...
8/11/2014Victory Nickel Announces Successful Commissioning at 7P Frac...
7/7/2014Victory Nickel Announces Closing of Convertible Note Financi...
5/30/2014Victory Nickel Announces Results of Annual and Special Meeti...
5/28/2014Victory Nickel Reminder: Annual and Special Meeting of Share...
5/16/2014Victory Nickel Files Q1 Financial Statements
5/15/2014Victory Nickel Obtains Line of Credit for Frac Sand Business
4/30/2014Victory Nickel Applies for Amendment to Minago EAL
4/22/2014Victory Nickel and Nuinsco Announce Conversion of Loan to Di...
11/4/2013Provides Update on Frac Sand Plant Development
8/6/2013Silica Ltd., a Subsidiary of Victory Nickel Inc., Hires Frac...
8/2/2013Acquisition of Securities of Victory Nickel Inc. and Filing ...
7/17/2013Announces Hiring of Key Personnel, Equipment Orders for Albe...
7/11/2013Set to Begin Development of Seven Persons Frac Sand Plant
6/28/2013Announces Results of Annual and Special Meeting
5/28/2013Adopts Advance Notice By-Law
3/26/2013Announces Amended and Restated Loan Agreement
3/22/2013Completes $2.2 million Private Placement
2/25/2013Announces Filing of Application to Change Permit Status of S...
1/25/2013Announces Loan Agreement
1/9/2013Completes Asset Purchase Agreement for Seven Persons Sand Pl...
10/18/2012s Status of Victory Silica Frac Sand Initiative
6/26/2012Ken Murdock Discusses Plans for Victory Silica's Entry Into ...
5/14/2012Reports on Winter Programs
8/10/2011(Minago)Again Improves Economics at Minago
8/3/2011Identifies Depth Extension to Known Resource at Mel Nickel P...
7/26/2011Receives Draft Environment Act Licence
6/29/2011CORRECTION FROM SOURCE: Victory Nickel Receives Draft Enviro...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (NI.TO)
0.030-25.00%
TORONTO
CA$ 0.030
02/19 16:27 -0.010
-25%
Prev close Open
0.040 0.040
Low High
0.020 0.040
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.030 -%
Volume 1 month var.
81,041 -%
24hGold TrendPower© : 15
Produces
Develops Nickel
Explores for Nickel
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
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$ 7.47-4.60%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$ 3.77-4.31%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 0.60+2.39%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.10+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.45+0.00%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$ 7.10-1.25%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.27+1.89%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.30-14.29%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$ 2.39+0.42%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 70.69+2.35%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$ 0.04+0.00%Trend Power :