Flying Nickel Mining Corp

Nickel lithium batteries currently set the gold standard for high-performance EV batteries, prompting efforts to increase nickel content while reducing lithium use, which is why Elon Musk commented that Tesla batteries should be called nickel batteries, when he compares nickel to the salad, while lithium as its dressing.

Flying Nickel Mining Corp., is a Canadian mining company trading on the Toronto Venture Exchange under the ticker FLYN and on the OTC under FLYNF.

The Company's flagship Minago project (Thompson nickel belt in Manitoba, Canada) is one of the world's largest high-grade open-pit optimized nickel sulphide deposits. Minago contains 722 million pounds of indicated nickel resource roughly equal to the nickel in 10 million Tesla model 3 vehicle batteries.

Flying Nickel aims to supply the electric vehicle industry with high-performance battery ingredients that are 100% made in Canada with low carbon emissions.

Backed by a seasoned team with experience in exploration, operations, and permitting, the Minago Project boasts remarkable exploration results. With only 5% drilled out, over 1 billion pounds of insitu nickel (70% measured and indicated) have been discovered across a vast 197 km exploration land package with multiple magnetic geophysical anomalies, the potential for further discovery remains high. Distinguished individuals, Including Chief Operating Officer formerly from the Vale Base Metals unit based in Thompson and a former Mining Minister of the Provincial Government of Manitoba, occupy positions on the company's board and management. 

Location

Thompson nickel belt contains the 2nd largest nickel deposit behind Sudbury and ahead of Voisey Bay, with key logistics and infrastructure within 1km of the mine site which includes water, power, and a major highway. Minago's nickel grade of 0.74% is nearly double other North American open pit mining projects which average at 0.4%. The average Nickel project head grades are expected to drop to 0.25% by 2030 due to lack of new discovery.

Shares Structure

The ownership structure entails 73 million shares, with 50% held by notable institutional and insider stakeholders such as Blackstone Minerals, Sparta of Germany, Oracle Holding, and Norway House Cree Nation. The latter being a strategic partner to Flying nickel as Minago sits in Norway House’ Traditional Resource Management area (TRM), and had just taken up a significant stake at Flying Nickel.

Upcoming Milestones

Looking ahead, Flying Nickel anticipates reaching a significant milestone in 2024—a Maiden PGM resource. This resource assessment, grounded in comprehensive exploration efforts and advanced mineralogical understanding, is based on 2022 drilling outcomes and reassaying of previous drill cores and critical mineralogical correlation to the sulphide deposit.

Encouragingly, the company's governmental consultation process is progressing well toward obtaining a fully rectified environmental act license. This regulatory advancement could set the stage for construction decisions as early as 2024, subject to securing project financing, and production initiation targeted for 2028.

Flying Nickel claims it is in a position to bring carbon neutral nickel to market within 5 years. Timing the market is critical. With high grade, excellent location, and strong local support, Flying Nickel, trading on TSXV: $FLYN and OTCQB: $FLYNF is worth looking at in more detail.