Last C$0.28 CAD
Change Today +0.01 / 3.77%
Volume 151.4K
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As of 3:43 PM 12/18/14 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. Announces Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2014

Victory Nickel, Inc. announced unaudited consolidated earnings results for the third quarter ended September 30, 2014. The company reported revenue of $5,949,000, operating loss was $357,000, loss before income taxes was $636,000, loss for the period was $408, and EBITDA was $115,000.

Victory Nickel Board Approves Proceeding with Phase Two of Frac Sand Business Plan

Victory Nickel Inc. announced that its Board of Directors has approved moving forward to Phase Two of the Company's three-phased business plan to become a significant frac sand supplier in Canada and the northern United States. Phase Two includes the construction by Victory Nickel of a moveable 1,000,000 ton per year frac sand wash plant directly on a sand deposit in Wisconsin at a cost of approximately USD 5 million. The Phase Two Wisconsin wash plant will be capable of supplying washed, concentrated sand to both the existing 7P Plant and to the 1,000,000 tpy dry frac sand processing plant that is currently being planned for construction in Manitoba as part of Phase Three. Phase Three will increase Victory Nickel's total finished frac sand production capacity to 1,500,000 tpy. The target is to have the Phase Two plant operational in the second quarter of 2015.

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.


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