First Nickel Inc. Reports Preliminary Production Results for 2013 and Provides Production and Financial Guidance for 2014
The company expects production of between 13.5 and 15.1 million pounds of contained nickel, a 12% increase (mid-point) over 2013; production of between 7.2 and 8.0 million pounds of contained copper; GMV1-net production of between 6.8 and 7.6 million pounds of nickel, and between 3.6 and 4.0 million pounds of copper. Capital expenditures in 2014 are projected to be approximately $7.2 million, including approximately $3.5 million relating to underground development. G&A expenses for 2014 are projected to be approximately $4.4 million, not including stock-based compensation. Financing costs and exploration expenditures are projected to be approximately $1.8 million and $0.4 million, respectively, in 2014.