Calandra is buying Nickel One (as management may hit pay dirt

June 2, 2016
Research #4
Nickel-Copper-PGE in
Ontario, Canada
Company Details
Nickel One Resources Inc.
Suite 1110 - 1111 West Georgia Street
Vancouver, BC, V6E 4M3 Canada
Phone: +1 604 805 3530
Email: [email protected]
Web: www.nickeloneinc.com
Shares Issued & Outstanding: 27,302,596
Calandra is buying Nickel One
(as management may hit
pay dirt again)
Thom Calandra’s investment letter, the Calandra Report, covers a
number of promising resource stocks, however in his latest Wednesday
edition he reported to have bought more shares of Nickel One
Resources Inc. His bet is straight-forward: The first phase of drilling
at Nickel One’s 100% owned Tyko Nickel-Copper-PGE Project near
Marathon in northwestern Ontario is complete and remaining assays
are yet to be disclosed. In mid-April, the company announced assays
of the first 4 holes: All intersected significant nickel mineralization at
shallow depths, including 1.04% nickel over 16 m (78 m downhole),
which is almost 4 times the mineralization length of historic hole TK06-001 (1.09% Ni over 4.15 m) and almost 3 times the mineralization
length of historic hole TK-06-005 (1.05% Ni over 6.20 m). Assays of
another 10 holes are pending.
Chart
Canada (TSX.V)
Canadian Symbol (TSX.V): NNN
Current Price: $0.115 CAD (June 2, 2016)
Market Capitalization: $3 million CAD
Chart
Germany (Frankfurt)
German Symbol / WKN: 7N1 / A2AD3E
Current Price: €0.076 EUR (June 2, 2016)
Market Capitalization: €2 million EUR
2
Research #4 | Nickel One Resources Inc.
T
he phase-1 drilling program was
designed to confirm orientation
of mineralization in the channel
structures and extend the continuity of
mineralization. Assays from the initial 4
holes in April (see below table) demonstrated that Nickel One is right on track,
while drilling since then focussed on
highly interesting targets never drilled
before. A new discovery may bring the
attention that this under-the-radarflying, low-key junior deserves. Early
birds, like Calandra, may strike big. The
next batch of 10 holes have the potential to make the company a respectable junior actively developing historic
showings into viable nickel-copper-PGE
deposits close to surface.
According to Thom Calandra:
He Is Buying A Slug More Of Nickel One
-- TCR The Calandra Report
Nickel One’s Tyko Project at Hemlo in
Ontario, Canada -- nickel and platinum
group metals. NNN in Canada and NKORF
in USA.​​​I just added to my position.​
Abraham Drost is QP ​(qualifying person)​
geologist on ​coming ​​exploration ​assays.
Vance Loeber in Vancouver, Canada, is
CEO​of the fledgling prospector​.
I requested the ​over-the-counter​ (pink
sheet) ticker in the USA after meeting
with Nic k el One’s M r. Drost​ a nd Mr.
Loeber​in Toronto. Mr. Drost of Thunder
Bay, Ontario, last hit pay dirt ​as CEO of
Carlisle Goldfields (Manitoba), which
is now owned and operated by Alamos
Gold (AGI in Canada).
Given the history of this formerly private
proj ect n o w in a p u b l ic company’s
stwerdship, ​fresh drilling of the property
is likely to confirm high-grade platinum
group mineralization.
I ​b eli e v e ​I w i l l be proven ​correct in
coming days​.
Nickel One has less than $1 million​in its
treasury​, ​m ost of ​which it is using for ​a​
winter-spring 2016 d
​ rill program. See the
first four ​exploration ​holes published in
April 2016.
Some 30 million shares and warrants are
in the ​NNN ​mix. The float is minus about
I su gge s t a pur cha s e ​ of NNN/NKORF​ 10 million shares in escrow for a multiimmediately. I am adding to my owner- year lockup.​ Market value is $3 million
ship of thinly traded NNN and NKORF CAD.​
right now​(Wednesday) at 11 cents CAD.
Stephan Bogner in Germany is tracking
I expect ​that ​fresh drill-hole assays at NNN for his Rockstone-Research service.
what the company is calling a magmatic
feeder system ​( gold, platinum, copper, -- Thom Calandra
twitter.com/thomcalandra
nickel) ​are afoot​.
Table 1: Composite Weighted Average Assay Intervals, Tyko Project, Q2/2016 Drilling
Hole No.
Zone
From m To m
Length m Ni wt% Cu wt% Au ppm Pt ppm Pd ppm
RJ Zone
3.6
92.5
88.9
0.26
0.14
0.01
Sub Zone 7.65
14.26
6.61
0.54
0.27
0.02
Sub Zone 19.7
23.7
4
0.51
0.34
0.02
TK-16-001 Sub Zone 32.5
42.09
9.59
0.62
0.28
0.01
Including 37.9
42.09
4.19
0.89
0.35
0.01
Including 37.9
39
1.1
1.67
0.56
0.03
Including 37.9
38.5
0.6
2.31
0.88
0.05
RJ Zone
15
100.42
85.42
0.52
0.23
0.01
Sub Zone 23.69 26.14
2.45
0.94
0.25
0.01
Including 24.85 25.48
0.63
2.05
0.37
0.03
Sub Zone
35
37
2
0.53
0.23
0.03
Sub Zone 52.75 96.87
44.12
0.79
0.3
0.01
TK-16-002
Including 58.25
66.5
8.25
1.04
0.54
0.01
Including
66
66.5
0.5
2.89
0.45
0.01
and
77.65 93.84
16.19
1.04
0.23
0
Including 78.62
90
11.38
1.23
0.26
0
Including
82
83
1
1.97
0.19
0
RJ Zone
2.47
99.26
96.79
0.18
0.11
0
Including 2.47
38.2
35.73
0.29
0.17
0.01
TK-16-003
Including 24.97 25.91
0.94
0.72
0.35
0
Including
30
30.7
0.7
0.82
0.24
0
RJ Zone
92.5
97.1
4.6
0.26
0.13
0
TK-16-004
Including 96.4
97.1
0.7
0.77
0.25
0
**Reported widths are drilled core lengths, true widths are unknown at this time.
0.04
0.15
0.06
0.07
0.08
0.14
0.16
0.1
0.23
0.58
0.15
0.12
0.12
0.27
0.15
0.18
0.17
0.02
0.03
0.07
0.08
0.02
0.04
0.04
0.09
0.05
0.08
0.09
0.16
0.22
0.09
0.24
0.52
0.15
0.11
0.12
0.35
0.12
0.13
0.12
0.02
0.04
0.14
0.08
0.03
0.09
Total PGE
ppm
0.09
0.26
0.13
0.16
0.19
0.33
0.43
0.21
0.49
1.13
0.33
0.24
0.26
0.63
0.28
0.32
0.29
0.05
0.07
0.21
0.16
0.06
0.13
Previous
Coverage by
Rockstone
Research #3:
“Nickel One
discovers
potentially
significant nickel
deposit near
surface in Ontario”
(April 12, 2016)
Research #2:
“Early Report on
Nickel One: Drill
Results Imminent”
(March 22, 2016)
Research #1:
“Nickel One
Starts Trading and
Acquires the Tyko
Nickel-Copper
Project near
Hemlo in Ontario”
(February 29,
2016)
3
Research #4 | Nickel One Resources Inc.
“Assays from the initial four holes
from the recent drilling program on
the RJ Zone at the Tyko Property,
showcase considerable potential for
the Project. A new magma conduit
model, developed by Fladgate
Exploration Consulting, was tested at
RJ. Initial results support this model
which potentially links the RJ and
Tyko Zones (separated by 1.5 km)
as part of pipe-like feeder system
(Figures 1 and 2).”
(Vance Loeber, President & CEO of
Nickel One, on April 12, 2016)
The already published assays from 4
holes (total 580 m) were drilled at the
RJ Zone/Showing. All 14 holes of the
phase-1 drill program totalled 1,780 m,
whereas pending assays are also from
holes at the Tyko Zone/Showing, as well
as a 3rd (new) target named Bruce Lake.
Rockstone eagerly awaits the remaining
10 assays from the Tyko Zone/Showing
and the newly discovered Bruce Lake
Showing. If Nickel One continues to exceed historic drilling results, Rockstone
believes that Tyko may advance quickly
to a world-class nickel deposit close to
surface.
The RJ Zone consists primarily of metamorphosed mineralized pyroxenite
which has been intruded by later granitoid rocks. The mineralized pyroxenite
contains abundant rip-up clasts of other
mafic-ultramafic phases and clastic sediments indicative of an active feeder-type
system. The mineralization is nickel-rich
with an average Ni:Cu ratio of ~2:1 and a
Pt:Pd ratio of ~1:1. Sulphides are typically
disseminated to blebby with local patches of net-textured and semi-massive
sulphide breccia. The sulphide tenors
of the Ni-Cu-PGE mineralization on the
Tyko Property are very high. Limited
analysis by previous workers indicate
tenors in 100% sulphide that average
13.0% Ni, 8.8% Cu, 6.6g/t PGE (Pt+Pd)
at the RJ Zone and 12.9% Ni, 14.5%
Cu, and 13.6g/t PGE at the Tyko Zone.
Additional analysis are currently underway to better define the sulphide tenors
of the various magmatic phases. The
high tenor of the sulphide suggests a
high value flotation concentrate from RJ
or Tyko style mineralization. This indicates that even a disseminated sulphide
deposit could potentially be economic
and adds further support to the view
that Nickel One’s Tyko Project contains a
fertile magmatic feeder system.
The company’s objective is to delineated this feeder system and ultimately
develop a mineral resource on the property. The pending assays from 10 holes
may bring the company a big step closer
to prove that case.
”One would think that those
companies brave enough to be
developing early stage nickel deposits
at this point in the commodity cycle
could fill the gap of lost production
in coming years. This is of course all
subject to a rebound in the nickel
price. This rebound could commence
as early as next year as the
Indonesian laterite ore ban makes
itself felt. Only time will tell.”
(Chris Berry in “A Closer Look at Nickel:
An Unsustainable Current Reality”)
4
Research #4 | Nickel One Resources Inc.
Management & Directors
Vance Loeber
CEO, President & Director
Loeber is President of Tydewell Consulting Inc. and has +30 years of international business experience. Loeber
has been involved in the financing of
early stage through to production level
resource companies for +20 years. Loeber was one of the founders of U.S. Silver Corp. (TSX: USA), currently the largest pure silver mine in the US. He was
also one of the founders of Sandspring
Resources Ltd. (TSX.V: SSP), which raised
over $60 million CAD and took the Toro
Paru Gold Deposit in British Guyana to +6
million ounces. Loeber was also one of
the founders of Carlisle Goldfields Ltd.,
recently bought by Alamos Gold Inc. (TSX:
AGI). His extensive network is focused on
Europe, Asia and North America, where
he matches these investors with the capital requirements of public companies.
Abraham P. Drost (P.Geo.)
Chairman & Director
Drost is a registered Professional Geoscientist (Ontario). He obtained the B.SC.
in Earth Sciences from the University of
Waterloo in 1984 and the M.Sc. in Mineral
Exploration from Queen’s University in
1987. He has +30 years experience in the
Canadian mining industry. Until recently,
Drost was CEO, President and a Director
of Carlisle Goldfields Ltd. (TSX: CGJ), is currently a Director of Mega Precious Metals
Inc. (TSXV: MGP), former CEO of Premier
Royalty Inc. (TSX: NSR) which was bought
by Sandstorm Gpold Ltd. (TSX: SSL), former President of Sandspring Resources
Inc., former President of Sabina Gold and
Silver Corp. and a former Director of Tyko
Resources Inc., a private Ontario corporation and party to the recent transaction.
Scott Jobin-Bevans (Ph.D., PMP, P.Geo.)
Director
Jobin-Bevans is a Co-Founder of Caracle
Creek International Consulting and was
Managing Director from 2001 to 2008
and Director of Corporate Development
since April 2011. In 2008, Scott stepped
down as MD and to be a co-founder of
TSX listed Treasury Metals Inc., where he
served as President, CEO & Director until
April 2011. Dr. Jobin-Bevans has +20
years in mineral exploration with public
Adapted from the Pay Dirt Board Game by Tory Niemann (original source)
company experience as a director, officer
and technical advisor. Scott is a member
of the board of directors for a number
of public and private companies and
holds the volunteer positions of President and Director of the Prospectors
and Developers Association of Canada.
Raymond Strafehl
Director
Strafehl has +30 years’ experience in the
investment and venture capital finance
industry in Canada; and in corporate
relations for public mining companies.
He is a registered Commodity Trading
Advisor with the National Futures Association in Canada (since 1998); and
founded Venture BC in 1998. He is a cofounder of International Liaison for the
International Institute for Sustainable
Regional Economies. Strafehl is currently
CEO of Redline Resources and has previously served as a director of a number of
public companies in Canada.
Roderick W. Johansen
Director
Johansen is a lawyer with Johansen Law
Firm of Thunder Bay. He practices exclusively in Corporate Commercial matters
including transactions and litigation. He
holds a Honours Bachelor of Science
from Lakehead University and a Law Degree from McGill University. He regularly
provides advice to public companies on
transactions, financing and other matters.
Robert J. Scott (CA, CFA)
CFO & Secretary
Scott is a chartered accountant with +20
years of professional experience in corporate finance, accounting, merchant
and commercial banking. He has served
in management and on the boards of
a number of Canadian companies. He
is currently CFO of Riverside Resources
(TSXV: RRI) and Northair Silver (TSXV:
INM). Scott is a co-founder and a director
of Pan American Hydro Corp., a private
company involved in developing small
hydro projects in Latin America. Scott
earned his CA designation in 1998, his
CFA designation in 2002 and has a B.Sc.
from the University of British Columbia.
Glenn J. Mullan (P.Geo.)
Advisory Board
Mullan holds a B.Sc. (Geology) from
Concordia University and has +35 years
of experience in the mining and exploration industries. Mullan is also the
President, CEO, and Chairman of Golden Valley Mines. As an independent
prospector, Mullan has assembled and
acquired many mining prospects ranging from grass-roots ventures through
advanced-stage projects. Glenn also is a
member of the Board of the Prospectors
and Developers Association of Canada
(PDAC).
Vancouver Commodity Forum
June 14, 2016 at Hyatt Regency Hotel in Vancouver
Click Here to Register
Program:
12:00 pm: Exhibitor floor opens
1:00 pm:
Welcome from Dave Hodge, President of Zimtu
Capital Corp.
Exhibitors:
92 Resources Corp. (TSX.V: NTY; Frankfurt: R9G2)
ALX Uranium Corp. (TSX.V: AL; Frankfurt: 6LLN)
Arctic Star Exploration Corp. (TSX.V: ADD; Frankfurt: 82A)
Aurvista Gold Corp. (TSX.V: AVA; Frankfurt: AVA2)
Belmont Resources Inc. (TSX.V: BEA; Frankfurt: L3L1)
Canadian Zeolite Corp. (TSX.V: CNZ ; Frankfurt: ZEON)
Commerce Resources Corp. (TSX.V: CCE; Frankfurt: D7H)
Copper North Mining Corp. (TSX.V: COL; Frankfurt: 79M)
Dunnedin Ventures Inc. (TSX.V: DVI; Frankfurt: 5DD)
Electra Stone Ltd. (TSX.V: ELT; Frankfurt: 44E1)
Equitas Resources Corp. (TSX.V: EQT; Frankfurt: T6UN)
Group Ten Metals Inc. (TSX.V: PGE; Frankfurt: 5D31)
MGX Minerals Inc. (CSE: XMG; Frankfurt: 1MG)
Nevada Clean Magnesium Inc. (TSX.V: NVM; Frankfurt: M1V)
Nickel One Resources Inc. (TSX.V: NNN; Frankfurt: 7N1)
NRG Metals Inc. (TSX.V: NGZ; Frankfurt: OGPN)
Scandium Int. Mining Corp. (TSX.V: SCY; Frankfurt: 0E6)
True Leaf Medicine Int. Ltd. (CSE: MJ; Frankfurt: TLA)
Umbral Energy Corp. (CSE: UMB; Frankfurt: 2UE)
Vatic Ventures Corp. (TSX.V: VCV.H)
Voltaic Minerals Corp. (TSX.V: VLT; Frankfurt: 2P61)
Zimtu Capital Corp. (TSX.V: ZC; Frankfurt: ZCT1)
1:10 pm:
Participant company introductions by Dave
Hodge and Sven Olsson
1:30 pm:
Joe Martin (Cambridge House International):
The difference between exploration and mining, and the
importance of Vancouver
1:40 pm: John Kaiser (Kaiser Researcb Online): “Criticality
of Supply” and how it effects world prices, demand, and the
ability to use that to your advantage in the market place
2:10 pm: BREAK - Networking with refreshments
3:00 pm: Stephan Bogner (Rockstone Research):
How European markets impact Canadian markets
3:20 pm:
John Hykawy (Stormcrow Capital): Demand &
Pricing for lithium, cobalt and other battery materials
3:50 pm: Gerry McCarvill (Aurvista): Hedging the metals markets - How to contain the large down drafts of the last 5 years
4:00 pm: Chris Berry (Disruptive Discoveries Journal):
The future of lithium
4:30-6:00 pm:
Networking Session with refreshments
6
Disclaimer and Information on
Forward Looking Statements:
All statements in this report, other than
statements of historical fact should be considered forward-looking statements. Much
of this report is comprised of statements of
projection. Statements in this report that are
forward looking include that base and precious metal prices are expected to rebound;
that Nickel One Resources Inc. or its partner(s) can and will start exploring further;
that exploration has or will discover a mineable deposit; that the company can raise
sufficient funds; that any of the mentioned
mineralization indications or estimates are
valid or economic; that the proposed transactions go through. Such statements involve
known and unknown risks, uncertainties
and other factors that may cause actual
results or events to differ materially from
those anticipated in these forward-looking statements. Risks and uncertainties respecting mineral exploration and mining
companies are generally disclosed in the
annual financial or other filing documents
of Nickel One Resources Inc. and similar
companies as filed with the relevant securities commissions, and should be reviewed
by any reader of this report. In addition,
with respect to Nickel One Resources Inc., a
number of risks relate to any statement of
projection or forward statements, including
among other risks: closing of the proposed
transactions; the receipt of all necessary approvals and permits; the ability to conclude
a transaction to start or continue exploration; uncertainty of future base and precious
metal prices, capital expenditures and other
costs; financings and additional capital requirements for exploration, development,
construction, and operating of a mine; the
receipt in a timely fashion of further permitting for its legislative, political, social or
economic developments in the jurisdictions
in which Nickel One Resources Inc. carries on
business; operating or technical difficulties
in connection with mining or development
activities; the ability to keep key employees,
joint-venture partner(s), and operations financed. There can be no assurance that
such statements will prove to be accurate, as
actual results and future events could differ
materially from those anticipated in such
statements. Accordingly, readers should not
place undue reliance on forward-looking information. Rockstone and the author of this
report do not undertake any obligation to
update any statements made in this report.
Research #4 | Nickel One Resources Inc.
Disclosure of Interest and
Advisory Cautions:
Nothing in this report should be construed as
a solicitation to buy or sell any securities mentioned. Rockstone, its owners and the author
of this report are not registered broker-dealers or financial advisors. Before investing in
any securities, you should consult with your
financial advisor and a registered broker-dealer. Never make an investment based solely on
what you read in an online or printed report,
including Rockstone’s report, especially if the
investment involves a small, thinly-traded
company that isn’t well known. The author of
this report is paid by Zimtu Capital Corp., a TSX
Venture Exchange listed investment company.
Part of the author’s responsibilities at Zimtu is
to research and report on companies in which
Zimtu has an investment. So while the author of this report is not paid directly by Nickel
One Resources Inc., the author’s employer
Zimtu will benefit from appreciation of Nickel
One Resources Inc.’s stock price. The author,
Stephan Bogner, does NOT own shares or
other kinds of securities of Nickel One Resources Inc. but may initiate a position. However
he owns shares of Zimtu Capital Corp. and
will benefit from appreciation of its stock. In
this case, Nickel One Resources Inc. does NOT
have one or more common directors with
Zimtu Capital Corp. Overall, multiple conflicts
of interests exist. Therefore, the information
provided herewithin should not be construed
as a financial analysis but rather as advertisement. The author’s views and opinions
regarding the companies featured in reports
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to be reliable. The featured company has not
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Lastly, the author does not guarantee that any
of the companies mentioned in the reports
will perform as expected, and any comparisons made to other companies may not be
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Analyst Profile and Contact
Stephan Bogner (Dipl. Kfm. FH)
Mining Analyst
Rockstone Research
8050 Zurich, Switzerland
+41-44-5862323
[email protected]
Stephan Bogner
studied at the
International School
of Management
(Dortmund,
Germany), the
European Business
School (London)
and the University of Queensland
(Brisbane, Australia). Under supervision
of Prof. Dr. Hans J. Bocker, Stephan
completed his diploma thesis (“Gold In
A Macroeconomic Context With Special
Consideration Of The Price Formation
Process”) in 2002. A year later, he
marketed and translated into German
Ferdinand Lips‘ bestseller („Gold Wars“).
After working in Dubai for 5 years, he
now lives in Switzerland and is the CEO of
Elementum International AG specialized
in duty-free storage of gold and silver
bullion in a high-security vaulting facility
within the St. Gotthard Mountain Massif
in central Switzerland.
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