Revised Financial Model Increases IRR to 19.8% and NPV by 21% at 6% Discount Rate
TORONTO, ONTARIO -- (Marketwire) -- 06/21/10 -- Victory Nickel Inc. (the 'Company') (TSX: NI) (www.victorynickel.ca) today announced improved economics for its 100%-owned Minago nickel project in Manitoba. The improvement arises from a reduction in capital cost due to the purchase of refurbished electrical equipment and revisions to the financial model. As a result, the project's base case internal rate of return (IRR) has increased to 19.8% from 17.7% and the net present value (NPV) at 6% discount rate has risen by $85 million to $487.6 million, compared with the results announced by news release on December 14, 2009. Undiscounted cash flow increases to in excess of $1 billion (all figures in $Cdn, unless otherwise indicated).
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