SPC Nickel

What SPC Nickel does

SPC Nickel Corp. (TSXV: SPC) is a Canadian mineral exploration company focused on acquiring, exploring, and advancing copper-nickel-platinum group metal (Cu-Ni-PGM) projects in Tier-1 Canadian jurisdictions. The company's portfolio consists of two core assets: the district-scale Muskox Project in Nunavut, covering approximately 496 km² and representing one of the largest greenfield Cu-Ni-PGM opportunities in North America with geological analogues to Norilsk, Voisey's Bay, and Sudbury; and the Lockerby East Property in the Sudbury Mining Camp, which contains the West Graham Deposit (Maiden MRE: 19.3 Mt at 0.42% Ni, 0.28% Cu Indicated; 3.3 Mt at 0.37% Ni, 0.28% Cu Inferred) and the high-grade LKE Deposit (665,000 t at 1.17% Ni, 0.54% Cu Indicated). The company also holds an option through a Cooperation Agreement with Vale Canada Limited to earn 100% of the adjacent Crean Hill 3 Property, which combined with West Graham forms a contiguous near-surface deposit.

Exploration relies on modern geophysical methods including MobileMT airborne surveys, HELITEM low-frequency EM (which identified 85 strong conductors on Muskox in 1,410 line-km of data), diamond drilling, and a proprietary historic database on Muskox valued at approximately $15M of equivalent modern expenditure. Metallurgical locked-cycle testing on West Graham returned 70% nickel recovery (96% of nickel sulphide) and 85% copper recovery into combined concentrates grading 14.8% Cu+Ni.

SPC Nickel is pre-revenue and monetises project advancement through equity financings, strategic partnerships, and option agreements rather than product sales. Dundee Corporation (TSX: DC.A) is the largest shareholder at approximately 36%, having backstopped a $3.5M rights offering in July 2025, and Vale Canada is the principal strategic partner for the most advanced asset (West Graham/Crean Hill 3). Capital raised since 2022 — exceeding $20M CAD across multiple private placements and rights offerings — has funded Sudbury and Nunavut exploration programs, airborne geophysics, metallurgical studies, and general corporate purposes, with management's stated path being to advance West Graham through feasibility (extended to June 30, 2027) and to drill-test the Muskox target pipeline.

Name

SPC Nickel

Legal name

SPC Nickel Corp.

Website

https://spcnickel.com

Company type

Public

Founded year

2021

Operating status

Operating

Headcount range

1–10 employees

Short description

SPC Nickel Corp. (TSXV: SPC) is a pre-revenue Canadian mineral exploration company advancing copper-nickel-PGM projects in Sudbury, Ontario and Nunavut, targeting major mining companies and EV battery supply chains via future project sale, joint venture, or production.

Ownership category

akta.pro rank

Product category

Mineral Exploration Services

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Metal Ore Mining (2122)

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090)

akta.pro primary industry

Nickel Mining & Concentrates (IMAKAFAB)

Keywords

• Mineral exploration services
• Nickel copper PGM
• Polymetallic mining
• Critical minerals exploration
• Sudbury Basin projects

Headquarters

HQ city

Sudbury

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Mineral Project Advancement and Monetization: SPC Nickel is a pre-revenue mineral exploration company. Future revenue will come from monetizing projects through sale, joint venture, option agreement with upfront/p milestone payments, offtake agreements, or production revenue if projects advance to mining.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

SPC Nickel is a pre-revenue mineral exploration company that acquires, explores, and advances copper-nickel-platinum group metal (Cu-Ni-PGM) projects in Tier-1 Canadian jurisdictions, specifically the Sudbury Mining Camp in Ontario and the Muskox Intrusion in Nunavut. The company monetizes its assets through option agreements, joint ventures, or sales to major mining companies once resource estimates are established. Future revenue is expected from project advancement milestones, offtake agreements, or eventual mine production rather than ongoing product sales.

Product overview

SPC Nickel is a Canadian mineral exploration company focused on discovering and advancing high-grade copper-nickel-platinum group metal (Cu-Ni-PGM) deposits in Tier-1 jurisdictions across Canada. The company's portfolio consists of two core projects: the district-scale Muskox Project in Nunavut (~496 km²), representing one of the largest greenfield Cu-Ni-PGM opportunities in North America, and the advanced-stage Lockerby East Property in the Sudbury Mining Camp, which includes the near-surface West Graham Deposit (potential open-pit resource) and the high-grade underground LKE Deposit. Through a cooperation agreement with Vale Canada, SPC Nickel also holds an option to earn 100% interest in the adjacent Crean Hill 3 Property, which combined with West Graham creates a contiguous near-surface deposit.

Differentiator

Problem solved

Functional benefit

Products and services

• Muskox Project A district-scale copper-nickel-platinum group metal (Cu-Ni-PGM) exploration project located in Nunavut, Canada, approximately 400 km north of Yellowknife. The project covers approximately 496 km² (49,600 hectares) comprising 26 mining claims and 2 prospectors permits, representing one of the largest and least deformed layered mafic to ultramafic intrusions in the world with similarities to the Norilsk, Voisey's Bay, and Sudbury camps.
• Lockerby East Property An advanced-stage copper-nickel exploration and resource project located 20 km west of Sudbury, Ontario, comprising the West Graham Deposit (near-surface open-pit potential with 19.3 Mt @ 0.42% Ni, 0.28% Cu Indicated and 3.3 Mt @ 0.37% Ni, 0.28% Cu Inferred) and the high-grade underground LKE Deposit (665,000 t @ 1.17% Ni, 0.54% Cu Indicated at 0.9% NiEq cutoff). Combined with the Vale Cooperation Agreement on adjacent Crean Hill 3, the property forms a contiguous near-surface deposit opportunity within 20 km of established Sudbury mining infrastructure.

Quantifiable outcome

• Maiden Mineral Resource Estimate: 224.8M lbs contained nickel and 155.0M lbs contained copper (Indicated) at West Graham
• +3 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered flagship and core.

• Vale Canada LimitedflagshipStrategic or Co-development Partner · 1 April 2026SPC Nickel amended its Cooperation Agreement with Vale Canada Limited, extending the Feasibility Study deadline for the West Graham Project by one year to June 30, 2027. The agreement covers SPC Nickel's right to earn 100% interest in Vale's adjacent Crean Hill 3 Property, combining the West Graham and Crean Hill 3 deposits into one contiguous near-surface deposit. The extension option was pushed to June 30, 2029.
• Bathurst Metals Corp.coreStrategic or Co-development Partner · 28 March 2023SPC Nickel entered into an Option Agreement with Bathurst Metals Corp. giving SPC Nickel the right to acquire a 100% interest in the 17,840 hectare McGregor and Speers Lake properties adjacent to the Muskox Project. This transaction consolidated SPC Nickel's control over all available staking ground on the Muskox Intrusion.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Canada Nickel Company: Canadian TSX-listed nickel exploration and development company focused on its Crawford Ni-Co-PGM project in Ontario. Directly comparable to SPC Nickel as a Canadian junior developer advancing tier-one nickel assets targeting the EV battery supply chain.
• Magna Mining: TSX-V-listed junior focused on copper-nickel-PGM exploration and development in the Sudbury Basin. Highly comparable to SPC Nickel given the same jurisdiction (Sudbury), same commodity suite (Cu-Ni-PGM), and similar development-stage profile.
• Wallbridge Mining Company: Canadian junior advancing the Fenelon gold project and Cu-Ni-PGM exploration in the Sudbury Basin. Directly comparable to SPC Nickel in terms of Sudbury focus, polymetallic exploration portfolio, and junior capitalization profile.
• Power Nickel: Canadian junior focused on high-grade nickel-copper-PGM exploration at its Nisk project in Quebec. Directly comparable as a TSX-V-listed critical-minerals explorer with similar asset size, target commodity (Ni-Cu-PGM), and pre-revenue development profile.
• Nickel Creek Platinum: TSX-listed junior developer of the Nickel Shäw project in the Yukon, focused on nickel-copper-PGM mineralization. Closely comparable to SPC Nickel as a Canadian PGM-focused explorer targeting critical-minerals supply for the energy transition.

Broad incumbents

• Lundin Mining: Diversified Canadian base-metals miner operating the Sudbury nickel-copper operations (including Eagle mine). Comparable to SPC Nickel as a Sudbury-focused producer with overlapping Cu-Ni-PGM exposure, but at significantly larger scale and with producing assets.
• KGHM Polska Miedź: Polish-headquartered global miner with active Sudbury Basin copper-nickel operations. Comparable to SPC Nickel given Sudbury copper-nickel asset overlap, but as a far larger diversified incumbent producer rather than a junior explorer.
• Glencore: Global diversified miner with significant Sudbury nickel-copper operations (through legacy assets). Comparable as a Sudbury peer and potential acquirer/JV partner of SPC's projects, but operates at vastly greater scale across multiple commodities.
• Vale Canada: Canadian subsidiary of Vale, one of the world's largest nickel producers with extensive Sudbury Basin operations and a Cooperation Agreement partner with SPC Nickel on West Graham / Crean Hill 3. Directly relevant as SPC's principal strategic partner and a potential acquirer.
• Impala Platinum Holdings: Global PGM producer with PGM refining and exploration interests. Comparable to SPC Nickel given the PGM component of SPC's Cu-Ni-PGM portfolio, but as a far larger incumbent producer rather than a junior developer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/corpspc
• LinkedInlinkedin.com/company/sudbury-platinum-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds6 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SPC Nickel