Vancouver – With shares of First Point Minerals (FPX-V, FPOCF-O) rallying about 30%, investors seem to approve of plans by the Central American-focused gold explorer to dust off a pair of British Columbia nickel projects.
The company acquired a couple of large, early-stage nickel properties it previously evaluated a number of years ago testing metallurgical recoveries from both nickel-iron and nickel sulphide minerals.
Bench-scale metallurgical testing on the ultramafic rocks indicated nickel could be recovered by using a combined leaching and physical separation processes.
What renewed First Points interest is when it initially tested the nickel mineralization the metal was trading around the US$3.50 per lb. level, making the economics of the project unlikely, but recent nickel prices of over US$20.00 per lb. could change that.
The company is compiling past work and gearing up for programs of mapping and sampling as well as further metallurgical testing.
First Point has been focused on its Cacamuy gold-silver property in Honduras and the Rio Luna gold project in Nicaragua.
Shares of First Point gained 4 on the May 14th nickel project news to close at 17.5 apiece on trading of almost 1.4 million shares. The stock has a 52-week trading range of 10-to-38.
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