The nickel district in Ontario controlled by Noble Mineral Exploration (TSXV: NOB) and Canada Nickel Company (TSXV: CNC) is sort of like the gold district in Nevada controlled by Augusta Gold (TSX: G) and AngloGold Ashanti (AU). For undeveloped projects with a high likelihood of being developed this decade these are the largest of their type anywhere in North America.
Only weeks after Agnico Eagle Mines acquired 12% of CNC, Samsung has acquired 8.7% of CNC.
For a multi-billion-dollar company to want to fully acquire CNC... the upcoming drilling results for Mann Northwest/Mann Central are what's most important.
If the results of these drill holes indicate a high likelihood that Mann Northwest/Mann Central contains a larger nickel resource than Crawford, it will be a game changer for CNC and especially for NOB.
Right now, NOB owns 100% of Mann Northwest/Mann Central, but at the time the drilling results get released, we expect CNC to execute on its option agreement to form an 80/20 JV with NOB.
Most investors reading about the Agnico Eagle Mines and Samsung investments into CNC have no idea that NOB exists, but this will soon change when the drilling results for Mann Northwest/Mann Central get released.
We believe the upside for NOB is many times greater than CNC... especially if NOB makes a discovery at their current 2,000m drill program located 2km north of Glencore's Kidd Creek the world's largest VMS deposit.
If NOB makes a discovery there, in addition to CNC reporting strong drilling results from NOB's Mann Northwest/Mann Central, NOB could become our Rusoro Mining (TSXV: RML) of 2024.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from NOB of US$50,000 cash for a six-month marketing contract. NIA's President has purchased 224,200 shares of G in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.