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Ann: Nickel diamond drilling resumes and key met appointments, page-18

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michaelhaley

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07/08/23

07:11

Post #: 69190824
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Originally posted by FrankGermany: ↑

Hi Michael,

I really appreciate your posts here, always interesting. But your comparison between Aston and Canada Nickel is incomplete.

CN will soon deliver a PFS, probably September.
Since the PEA the resource has gone up from just over 3 to 5 million tons of contained nickel.
And nickel recovery rates have gone up significantly.
I expect economics to be much better now.

Yes, metallurgy is more difficult with all that iron and chromium in the ore.
But, a concentrate rich in nickel, iron and chromium is ideally suited to produce stainless steel, which for a long time will be the largest nickel market.
They consider to produce stainless ( 3rd party ) directly on the property. That would allow to capture C02 emissions from the steel mill. Win win win situation. By the way this is the only chromium resource in north america.

CN is much further advanced in the development and permission process.
Expect to be construction ready in 2025 and could be producing nickel in Crawford in 2027.

And most of all: CN has an incredible 20 targets like Crawford, 10 of which have a larger footprint than Crawford.
They may well end up with a resource of some 100 million tons of contained nickel. Completely different league.
Several of those targets have been drilled to some extent, and they find nickel everywhere.

Particularly interesting: the Texmont property has some very high grade zones in the 1.5% range.
This is a brownfield development with valid mining licences and permissions.
They are planning to start a small mining operation with an annual production of 3-5.000 tons in 2025 using toll milling
in regional underutilised mills. Low Capex, and this will be a significant cash generator which helps a lot to develop the company.
They could sell construction ready Crawford and then have mountain of cash to develop all the other targets, of which some will be even better.

I invested into both Aston and CN about equally from April to June mostly.
Meanwhile I sold 820k of my Aston with a heavy loss and keep 1m shares.
Invested the proceeds into more CN of which now I hold 130k.
Lost more than 50% of my money in Aston. A bit painful.
Also lost some money with CN, but much less so, at present 15%. Actually I was glad that CN went down a bit because that made it easier to buy more.
Didn`t do enough homework then, otherwise I would have weighed CN and Aston 3:1 rather than 1:1.

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Hey Frank,

Thanks for the in depth information on CNC, I was just highlighting the differences in the mineralization between ASO and CNC.

Mark Selby is a very clever man and has dedicated his life to Nickel so i have no doubt they will do well in the future.

CNC success will help pave a pathway to success for Aston.

ASO Price at posting: 4.9¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

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