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Last C$0.03 CAD
Change Today +0.005 / 20.00%
Volume 22.5K
As of 1:13 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

victory nickel inc (NI) Snapshot

Open
C$0.03
Previous Close
C$0.03
Day High
C$0.03
Day Low
C$0.03
52 Week High
08/13/14 - C$0.70
52 Week Low
07/20/15 - C$0.02
Market Cap
1.7M
Average Volume 10 Days
95.0K
EPS TTM
C$0.0029
Shares Outstanding
57.6M
EX-Date
--
P/E TM
8.0x
Dividend
--
Dividend Yield
--
Current Stock Chart for VICTORY NICKEL INC (NI)

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victory nickel inc (NI) Details

Victory Nickel Inc. primarily engages in the acquisition, exploration, and development of nickel properties and associated products in Canada. The company holds 100% interest in the Minago and Mel sulphide nickel properties located in the Thompson Nickel Belt in Manitoba; and Lac Rocher sulphide nickel property located in northwestern Quebec. It also holds an option to acquire a 100% interest in the Bear Coulee frac sand property located in Wisconsin, the United States. The company was incorporated in 2006 and is headquartered in Toronto, Canada.

41 Employees
Last Reported Date: 04/1/15
Founded in 2006

victory nickel inc (NI) Top Compensated Officers

Vice Chairman, Chief Executive Officer, Inter...
Total Annual Compensation: C$280.0K
President and Chief Operating Officer
Total Annual Compensation: C$131.6K
Chief Executive Officer of Victory Silica Ltd
Total Annual Compensation: C$240.0K
Vice President of Environment & Sustainable D...
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

victory nickel inc (NI) Key Developments

Victory Nickel Inc. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Announces Production Results in 7P Plant for the First Quarter Ended March 31, 2015

Victory Nickel Inc. reported consolidated earnings results for the first quarter ended March 31, 2015. For the period, the company reported net loss of $271,000, or $0.00 per share, on sales revenue of $1,522,000. This compares with a net loss of $1,446,000, or $0.02, on revenues of $0 in the comparative period of the prior year during which the company was in the pre-operating stage at the 500,000 ton per year frac sand plant in Alberta. For the quarter, the company reported 7P Plant produced 13,721 tons of various grades of frac sand. The company accumulated inventory of in excess of 40,000 tons at various stages of the process. Revenue per ton was $149.54 per ton on sales of 10,178 tons, resulting in a negative gross margin of $247,000, or $24.27 per ton sold. The three-month period ended March 31, 2015 was not a typical sales period as the sudden and material drop in the price of oil that occurred in the fourth quarter of 2014 caused such uncertainty in the market that exploration and production companies basically stopped activities in The company’s market area. This was compounded by spring break up, the time each year when road bans restrict the movement of heavy equipment on to well pads resulting in less drilling and therefore lower frac sand demand. During the prior year comparative quarter, sales revenue of $274,000 was generated but netted against pre-operating costs.

Victory Nickel Updates Secured Debt Status

Victory Nickel Inc. announced that it has not repaid the amounts due, including the principal amount, on July 30, 2015, under the USD 5.15 million senior secured 14.8% notes (SPA Loan) dated as of April 24, 2014 and amended June 3, 2015 and which matured on July 30, 2015. The SPA Loan is secured by the assets of the Company. The Company is continuing with discussions among the holder of the SPA Loan and other potential financing sources to restructure the Company’s debt and recapitalize the Company. Although sales of frac sand resumed in May, they are not yet at levels which will allow the Company to repay the SPA loan and there can be no assurance that the Company will be able to restructure its debt and/or recapitalize and there is no certainty as to what steps the lenders may take in light of these defaults.

Victory Nickel, Inc. Announces Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015

Victory Nickel, Inc. announced consolidated earnings and operating results for the first quarter ended March 31, 2015. The company reported a consolidated net loss of $271,000, on sales revenue of $1,522,000 for the three months ended March 31, 2015. This compares with a net loss of $1,446,000, or $0.02, on revenues of nil in the comparative period of the prior year during which the company was in the pre-operating stage at the 500,000 ton per year frac sand plant in Alberta. The 7P Plant produced 13,721 tons of various grades of frac sand during the quarter ended March 31, 2015.

 

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