Last C$0.36 CAD
Change Today 0.00 / 0.00%
Volume 8.4K
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As of 12:12 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

victory nickel inc (NI) Snapshot

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01/16/14 - C$0.90
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victory nickel inc (NI) Details

Victory Nickel Inc. is primarily engaged in the acquisition, exploration, and development of nickel properties and associated products in Canada. Its principal projects include the Minago property located in the Thompson Nickel Belt in Manitoba; Mel property located in the Thompson Nickel Belt in Manitoba; and Lac Rocher property located in northwestern Quebec. The company was incorporated in 2006 and is headquartered in Toronto, Canada.

10 Employees
Last Reported Date: 03/31/14
Founded in 2006

victory nickel inc (NI) Top Compensated Officers

Vice Chairman, Chief Executive Officer and Me...
Total Annual Compensation: C$203.0K
President and Chief Operating Officer
Total Annual Compensation: C$131.6K
Chief Financial Officer and Vice President of...
Total Annual Compensation: C$89.7K
Vice President of Environment & Sustainable D...
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

victory nickel inc (NI) Key Developments

Victory Nickel Inc. Enters into Option to Acquire Land Package Totaling over 300 Acres in South Western Wisconsin, USA

Victory Nickel Inc. announced it has entered into an option to acquire a 100% interest in a land package totaling over 300 acres in south western Wisconsin, USA. The Company is specifically targeting a 100 acre ridge which has been determined to contain one of the quality frac sand deposits in North America. This is a Jordan formation sandstone located close to road and rail transportation links. Typically, 40 acres of ridge contains 8,000,000 tons of sandstone. The Company expects to realize 4,000,000 tons of coarse high-quality Jordan formation sand from each forty-acre parcel. The option agreement provides for a cash payment on signing of the agreement, a second cash payment on delivery of permits and a third cash payment on exercise of the option. The option is valid for six months with two equivalent extensions available under certain circumstances. Prior to production the Company will be required to pay USD 40,000 per annum as advance royalties on the initial 20,000 tons of sand production. Once the property is in production, the Company will be required to pay a royalty of USD 2.00 per ton of frac sand sold from the property.

Victory Nickel, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Victory Nickel, Inc. reported earnings results for the second quarter and six months ended June 30, 2014. For the Quarter ended June 30, 2014 the Company incurred a net loss was $754,000, or $0.00 basic and diluted. Total sales for the six months ended June 30, 2014 were 11,310 tons, of which 1,840 tons were sold during the first quarter. The Company incurred a net loss of $2,349,000, or $0.00 basic and diluted, for the six months ended June 30, 2014. Of this loss, $1,012,000 was net finance costs to fund the construction of the 7P Plant; many such costs are non-cash items.

Victory Nickel Inc. and Victory Silica Ltd. Announce Successful Commissioning at 7P Frac Sand Plant

Victory Nickel Inc. and its wholly-owned subsidiary Victory Silica Ltd. announced the successful completion of commissioning of its 500,000 ton-per-year Seven Persons frac sand plant (the "7P Plant") near Medicine Hat, Alberta. The 7P Plant represents Phase 1 of a three-phase plan whereby the Company is now processing concentrated sand imported from Wisconsin and selling various grades of finished high-quality frac sand. The 7P Plant is well located in an area populated with fracking companies, its potential customers, and is within only a few hours' trucking distance of major oil or gas play well sites. Phase 2, which includes the construction of a frac sand wet plant in Wisconsin, is expected to reduce costs and assure security of sand supply through ownership of a frac sand mine in Wisconsin. In Phase 3, the Company intends to construct a larger frac sand plant to process and distribute both imported and domestic sand, which may potentially, but not necessarily, include sand mined as a co-product of development at the Company's Minago nickel and frac sand project in Manitoba. The Company has already identified a site in Winnipeg, Manitoba for this purpose. The 7P Plant was in the commissioning stage during the second quarter, however significant production and sales were generated. Accordingly, sales revenues and related costs will be reported for the second quarter of 2014 rather than costs net of revenue being expensed as pre-operating costs as was done during the first quarter. The company expects to report cash flow with its third quarter results.


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