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03/12/14 - C$0.05
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first nickel inc (FNI) Details

First Nickel Inc. engages in the acquisition, exploration, mining, and development of base metal properties in North America. It principally explores for nickel, copper, and cobalt. The company primarily has a 100% interest in the Lockerby Mine, which is located to the west of the city of Sudbury, Ontario. First Nickel Inc. was incorporated in 2003 and is headquartered in Toronto, Canada.

180 Employees
Last Reported Date: 03/20/14
Founded in 2003

first nickel inc (FNI) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$350.0K
Vice President of Operations
Total Annual Compensation: C$160.0K
Head of Corporate Development and Vice Presid...
Total Annual Compensation: C$190.0K
Vice President of Exploration
Total Annual Compensation: C$190.0K
Compensation as of Fiscal Year 2012.

first nickel inc (FNI) Key Developments

First Nickel Inc. Announces Audited Earnings and Production Results for the Year Ended December 31, 2013; Provides Capital Expenditure Guidance for the Year 2014

First Nickel Inc. announced audited earnings and production results for the year ended December 31, 2013. For the year, the company reported revenue of CAD 71,644,035 against CAD 36,078,313 a year ago. Operating loss was CAD 50,142,259 against CAD 35,294,420 a year ago. Loss before taxes was CAD 55,618,622 against CAD 36,329,138 a year ago. Net loss and comprehensive loss was CAD 55,618,622 or CAD 0.09 per basic and diluted share against CAD 36,329,138 or CAD 0.07 per basic and diluted share a year ago. For the year, 245,903 tonnes of ore produced against 204,841 tonnes of ore produced a year ago. Tonnes of ore shipped were 242,003 against 198,694 a year ago. For the year 2014, capital expenditures are projected to be approximately CAD 7.2 million, including approximately CAD 3.5 million related to underground development.

First Nickel Inc. Auditor Raises 'Going Concern' Doubt

First Nickel Inc. filed its Annual on Mar 20, 2014 for the period ending Dec 31, 2013. In this report its auditor, KPMG LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

First Nickel Inc. Reports Preliminary Production Results for 2013 and Provides Production and Financial Guidance for 2014

First Nickel Inc. reported preliminary production results for 2013 and provides production and financial guidance for 2014. The company achieved full production at the Lockerby Mine in Ontario's Sudbury Basin. The company shipped approximately 242,000 tonnes of ore to Glencore and produced approximately 12.8 million contained pounds of nickel, at the mid-point of the 2013 guidance range of 12.1 - 13.5 million pounds. The company produced approximately 7.5 million contained pounds of copper, at the mid-point of the 2013 guidance range of 7.2 - 7.9 million pounds. The company expects production of between 13.5 and 15.1 million pounds of contained nickel, a 12% increase (mid-point) over 2013; production of between 7.2 and 8.0 million pounds of contained copper; GMV1-net production of between 6.8 and 7.6 million pounds of nickel, and between 3.6 and 4.0 million pounds of copper. Capital expenditures in 2014 are projected to be approximately $7.2 million, including approximately $3.5 million relating to underground development. G&A expenses for 2014 are projected to be approximately $4.4 million, not including stock-based compensation. Financing costs and exploration expenditures are projected to be approximately $1.8 million and $0.4 million, respectively, in 2014.


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