Duluth Metals Highlights Position in the Nickel Market

Duluth Metals Ltd. (TSX:DM) reiterated its advantage in the rapidly recovering nickel market through its Twin Metals project, located within the Duluth Complex mining camp in Northeastern Minnesota.

Twin Metals is an advanced prefeasibility-phase polymetallic copper-nickel-platinum-palladium-gold project with a contained nickel resource of 4.7 billion pounds measured and indicated and 4.2 billion pounds inferred.

As quoted in the press release:

  • Duluth Metals has 60% ownership interest in Twin Metals Minnesota LLC which is currently close to completing a detailed pre-feasibility study on a very large copper-nickel-PGM project in NE Minnesota
  • Duluth Metals is well positioned to benefit from the current recovery in world nickel prices
  • Nickel currently contributes 30 percent to the base case NSR valuation of the Maturi Measured + Indicated Resource
  • Realization of projected escalating spot nickel prices over the next two years may significantly increase the overall TMM nickel value and potential revenue ratio
  • January 2014 AMEC resource update highlights a contained nickel resource of 4.7 billion pounds Measured + Indicated and 4.2 billion pounds Inferred*
  • Duluth Metals has previously announced high grade nickel intersections in the southern portion of the Maturi Deposit

Duluth Metals’ chairman and CEO, Christopher Dundas, said:

The importance of the nickel resource may significantly increase with the growing discussion about the nickel market potentially moving into a deficit next year. We are also seeing political issues that may further influence the price of nickel to move upwards such as the Indonesian government ban on raw material (nickel/ore) exports and the potential disruption of supplies from Russia, one of the world’s largest nickel producers, as a result of the tensions in Europe.

Click here to read the Duluth Metals Ltd. (TSX:DM) press release.