# EV Nickel Reports CarLang A PEA: Robust Economics for Large Scale Nickel Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9 Original source: https://money.tmx.com/en/quote/EVNI/news/6512645927659869/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project Publisher: tmx Original announcement: 2025-05-05T11:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: EV Nickel Inc. - Ticker: EVNI - Exchange: TSX - Region: northeastern Ontario, Canada - Primary commodity: Nickel - Secondary commodities: Cobalt, Iron ore, Chromium, Sulfur, Magnesium oxide, Silicon dioxide - Document categories: Metallurgy, Resource update, Other - Extracted: 2026-09-12 05:44:31 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary EV Nickel has reported a Preliminary Economic Assessment \(PEA\) for its CarLang A Nickel Project, highlighting robust economics with a post-tax NPV\(8%\) of C$1.48 billion and a 20-year mine life. The PEA outlines a large-scale, low-cost open pit operation producing nickel, iron, and chromium concentrates, with low net C1 cash costs of US$4.36/lb Ni. The company plans to advance permitting and optimize mine design and processing facilities, while continuing exploration for additional high-quality nickel deposits, despite preliminary metallurgical results indicating low nickel recovery and variable mineralogy. Reasoning: The Preliminary Economic Assessment \(PEA\) for the CarLang A Nickel Project demonstrates strong economic potential with a robust NPV and long mine life, supported by a large resource. However, the preliminary nature of the study, the age of the resource estimate, and the low nickel recovery from initial metallurgical testwork introduce notable risks and areas for further optimization. - Positive factor: Robust economics with significant post-tax NPV\(8%\) of C$1.48 billion - Positive factor: Large-scale project with a 20-year mine life and low operating costs - Positive factor: Potential for additional near-surface exploration and higher-grade zones - Positive factor: QP/CP signed off on the resource estimate and NI 43-101 compliant - Negative factor: PEA is preliminary in nature and includes inferred mineral resources - Negative factor: Resource estimate is stale \(effective date Feb 2023\) - Negative factor: Low overall nickel recovery \(40.8%\) from bench-scale testwork - Negative factor: Highly variable mineralogy and potential penalty elements identified in concentrates - Negative factor: Concentrate tonnage figures in Table 1 appear to be in incorrect units \(Mt instead of kt/t\) - Rubric flag: Resource category inconsistency — The document states 'Measured resource of 1,007 million tonnes... consisting of Indicated resource of 510 Mt... and an Inferred mineral resource of 497 Mt'. The 1,007 Mt appears to be the total resource \(sum of Indicated and Inferred\), not a Measured resource. This phrasing is contradictory. - Rubric flag: Concentrate tonnage unit error — Table 1 reports 'Ni Concentrate Mt 1,147' and 'FeCr Concentrate Mt 51,287'. Given the 'Mill Feed Mt 840', these concentrate tonnages in 'Mt' are physically impossible and are likely typos for 'kt' or 't'. Facts used in scoring: 11 ## Classification and evidence **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource estimate includes 497 Mt of Inferred mineral resources, which is a speculative category with limited geological confidence. Evidence · text > Inferred mineral resource of 497 Mt grading 0.23% Ni **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The Mineral Resource Estimate is defined by NI 43-101 and prepared following CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines. Evidence · text > The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Mr. Simon Mortimer, a Qualified Person, is named as the independent Qualified Person for the Mineral Resource Estimate. Evidence · text > Mr. Simon Mortimer, \(FAIG \#4083\) of Atticus Geoscience Consulting S.A.C., working with Caracle Creek International Consulting Inc. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: A cut-off grade of 0.12% NiEq was applied to the resource block model for the PEA. Evidence · text > A cut-off grade of 0.12% NiEq was applied to the resource block model **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The effective date of the Mineral Resource Estimate is February 28, 2023, which is over two years prior to the announcement date of May 5, 2025. Evidence · text > The effective date of the Mineral Resource Estimate is February 28, 2023. **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: The total salable nickel recovery of 40.8% is significantly below the weak band \(75%\) for nickel flotation. Evidence · table > 40.8 Context: Ni Recovery **Bench Scale Only** Polarity: negative Definition: Only preliminary bench tests completed — no locked-cycle or pilot work. Why it applies: The metallurgical testwork was conducted at bench-scale, with limited optimization, and further testwork is recommended. Evidence · text > Corem metallurgical laboratory was contracted to perform sample characterization and bench-scale laboratory testwork **Refractory Ore** Polarity: negative Definition: Ore requires oxidation/pressure treatment before recovery — a processing and recovery risk. Why it applies: The CarLang A zone mineralogy is described as highly variable in nickel deportment and non-sulphide gangue, suggesting metallurgical complexity. Evidence · text > CarLang A zone mineralogy is highly variable in both nickel deportment as well as non-sulphide gangue **Deleterious Elements Present** Polarity: negative Story-specific tag Definition: A source-stated penalty, refractory or recovery concern in the fact's scope. Element detection alone, including measured elements explicitly below penalty thresholds, does not trigger this tag. Respect negation and retain a separately stated concern even when another risk is explicitly absent. Why it applies: MgO, SiO2, and S are identified as potential penalty elements in both nickel and FeCr concentrates. Evidence · text > 25% MgO and 27% SiO2 as potential penalty elements. The magnetite concentrate is assumed to be 48% Fe and 1% Cr as payables with 15% MgO, 12% SiO2 and 0.04% S as potential penalty elements. **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: The document reports the results of a Preliminary Economic Assessment \(PEA\) for the project. Evidence · text > EV Nickel Reports CarLang A PEA: Robust Economics for Large Scale Nickel Project **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: 3 distinct composites were tested ## Extracted facts Stored fact records: 11. Some facts used in scoring do not have a stored record. ## Resource Estimates (2) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-resource-facts-0) CarLang A Nickel Project · nickel #### Identity - Project: CarLang A Nickel Project - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Resource scope - Estimate type: resource - Effective date: 2023-02-28T00:00:00.000Z - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Simon Mortimer - Resource group id: resource:345393cd3a71aa27b51e - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 510000000 - Grade: 0.25 - Grade Unit: % - Cutoff Grade: 0.12 - Cutoff Unit: % NiEq #### Prior Estimate - Resource Date: 2023-02-28 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The indicated resource represents a significant tonnage for the project, providing a foundation for the PEA, though its effective date is over two years old. - Positive factor: Large indicated resource tonnage - Positive factor: NI 43-101 compliant and QP signed - Positive factor: Cut-off grade and metal equivalent assumptions disclosed - Negative factor: Resource estimate is stale \(effective date Feb 2023\) Evidence · text > Indicated resource of 510 Mt grading 0.25% Ni #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-resource-facts-1) CarLang A Nickel Project · nickel #### Identity - Project: CarLang A Nickel Project - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Resource scope - Estimate type: resource - Effective date: 2023-02-28T00:00:00.000Z - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Simon Mortimer - Resource group id: resource:aa53eeaf25609ea2a3f3 - Mining method: open\_pit - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 497000000 - Grade: 0.23 - Grade Unit: % - Cutoff Grade: 0.12 - Cutoff Unit: % NiEq #### Prior Estimate - Resource Date: 2023-02-28 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The inferred resource contributes significantly to the project's overall scale but carries lower geological confidence and is based on a stale effective date. - Positive factor: Large inferred resource tonnage - Positive factor: NI 43-101 compliant and QP signed - Positive factor: Cut-off grade and metal equivalent assumptions disclosed - Negative factor: Resource estimate is stale \(effective date Feb 2023\) - Negative factor: Inferred category has lower geological confidence Evidence · text > Inferred mineral resource of 497 Mt grading 0.23% Ni #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 2.2 years before this release ## Metallurgical Results (9) ### bench-scale [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-metallurgical-facts-2) CarLang A Nickel Project · nickel #### Identity - Project: CarLang A Nickel Project - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Test Work - Program Status: preliminary - Test Type: bench-scale - Processing Route: sulphide flotation - Sample: Ni Concentrate #### Recovery - Recovery: 14.6 % - Recovery Basis: actual\_test - Head Grade: 0.23 - Head Grade Unit: % - Conc. Grade: 25 - Conc. Grade Unit: % #### Reagents - Reagent Notes: 25% MgO and 27% SiO2 as potential penalty elements #### Lab - Laboratory: Corem metallurgical laboratory #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The reported nickel recovery of 14.6% to sulphide concentrate is very low, indicating significant metallurgical challenges for the primary commodity, further complicated by potential penalty elements. - Negative factor: Low recovery for nickel to sulphide concentrate - Negative factor: Bench-scale testwork only, further optimization recommended - Negative factor: Potential penalty elements \(MgO, SiO2\) in concentrate Evidence · table > 14.6 Context: Ni Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 14.6% is below the weak band \(75%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### bench-scale [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-metallurgical-facts-3) CarLang A Nickel Project · cobalt #### Identity - Project: CarLang A Nickel Project - Commodity: cobalt - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Test Work - Program Status: preliminary - Test Type: bench-scale - Processing Route: sulphide flotation - Sample: Ni Concentrate #### Recovery - Recovery: 2.2 % - Recovery Basis: actual\_test - Head Grade: 0.01 - Head Grade Unit: % - Conc. Grade: 0.17 - Conc. Grade Unit: % #### Lab - Laboratory: Corem metallurgical laboratory #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The reported cobalt recovery of 2.2% to sulphide concentrate is very low, though cobalt is a byproduct. - Negative factor: Very low recovery for cobalt to sulphide concentrate - Negative factor: Bench-scale testwork only, further optimization recommended Evidence · table > 2.2 Context: Co Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### bench-scale [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-metallurgical-facts-4) CarLang A Nickel Project · iron\_ore #### Identity - Project: CarLang A Nickel Project - Commodity: iron\_ore - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Test Work - Program Status: preliminary - Test Type: bench-scale - Processing Route: magnetic separation - Sample: FeCr Concentrate #### Recovery - Recovery: 55 % - Recovery Basis: actual\_test - Head Grade: 5.33 - Head Grade Unit: % - Conc. Grade: 48 - Conc. Grade Unit: % #### Reagents - Reagent Notes: 15% MgO, 12% SiO2 and 0.04% S as potential penalty elements #### Lab - Laboratory: Corem metallurgical laboratory #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The reported iron recovery of 55.0% to magnetic concentrate is moderate, contributing to byproduct credits, but is from preliminary testwork and faces potential penalty elements. - Positive factor: Moderate recovery for iron to concentrate - Positive factor: Good concentrate grade - Negative factor: Bench-scale testwork only, further optimization recommended - Negative factor: Potential penalty elements \(MgO, SiO2, S\) in concentrate Evidence · table > 55.0 Context: Fe Recovery #### Tags used in scoring **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### bench-scale [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-metallurgical-facts-5) CarLang A Nickel Project · chromium #### Identity - Project: CarLang A Nickel Project - Commodity: chromium - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Test Work - Program Status: preliminary - Test Type: bench-scale - Processing Route: magnetic separation - Sample: FeCr Concentrate #### Recovery - Recovery: 26.3 % - Recovery Basis: actual\_test - Head Grade: 0.23 - Head Grade Unit: % - Conc. Grade: 1 - Conc. Grade Unit: % #### Lab - Laboratory: Corem metallurgical laboratory #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The reported chromium recovery of 26.3% to magnetic concentrate is low, though chromium is a byproduct. - Negative factor: Low recovery for chromium to concentrate - Negative factor: Bench-scale testwork only, further optimization recommended Evidence · table > 26.3 Context: Cr Recovery #### Tags used in scoring **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### bench-scale [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-metallurgical-facts-6) CarLang A Nickel Project · nickel #### Identity - Project: CarLang A Nickel Project - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Test Work - Program Status: preliminary - Test Type: bench-scale - Processing Route: magnetic separation - Sample: FeCr Concentrate #### Recovery - Recovery: 26.2 % - Recovery Basis: actual\_test - Head Grade: 0.23 - Head Grade Unit: % - Conc. Grade: 1 - Conc. Grade Unit: % #### Lab - Laboratory: Corem metallurgical laboratory #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The reported nickel recovery of 26.2% to the FeCr concentrate is low, further contributing to the overall low nickel recovery for the project. - Negative factor: Low recovery for nickel to FeCr concentrate - Negative factor: Bench-scale testwork only, further optimization recommended Evidence · table > 26.2 Context: Ni Recovery #### Tags used in scoring **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 26.2% is below the weak band \(75%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### bench-scale [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-metallurgical-facts-7) CarLang A Nickel Project · nickel #### Identity - Project: CarLang A Nickel Project - Commodity: nickel - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Test Work - Program Status: preliminary - Test Type: bench-scale - Processing Route: sulphide flotation and magnetic separation - Sample: Salable Metal Total Recovery #### Recovery - Recovery: 40.8 % - Recovery Basis: actual\_test - Head Grade: 0.23 - Head Grade Unit: % #### Reagents - Reagent Notes: 25% MgO and 27% SiO2 as potential penalty elements for Ni concentrate; 15% MgO, 12% SiO2 and 0.04% S as potential penalty elements for FeCr concentrate #### Lab - Laboratory: Corem metallurgical laboratory #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The total salable nickel recovery of 40.8% is significantly below typical expectations for nickel projects, posing a material risk to project economics, especially given the preliminary nature of the testwork and identified penalty elements. - Negative factor: Low overall nickel recovery for the project - Negative factor: Bench-scale testwork only, further optimization recommended - Negative factor: Highly variable mineralogy and potential penalty elements identified Evidence · table > 40.8 Context: Ni Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 40.8% is below the weak band \(75%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### bench-scale [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-metallurgical-facts-8) CarLang A Nickel Project · cobalt #### Identity - Project: CarLang A Nickel Project - Commodity: cobalt - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Test Work - Program Status: preliminary - Test Type: bench-scale - Processing Route: sulphide flotation and magnetic separation - Sample: Salable Metal Total Recovery #### Recovery - Recovery: 2.2 % - Recovery Basis: actual\_test - Head Grade: 0.01 - Head Grade Unit: % #### Lab - Laboratory: Corem metallurgical laboratory #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The total salable cobalt recovery of 2.2% is very low, limiting its contribution as a byproduct. - Negative factor: Very low overall cobalt recovery - Negative factor: Bench-scale testwork only, further optimization recommended Evidence · table > 2.2 Context: Co Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### bench-scale [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-metallurgical-facts-9) CarLang A Nickel Project · chromium #### Identity - Project: CarLang A Nickel Project - Commodity: chromium - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Test Work - Program Status: preliminary - Test Type: bench-scale - Processing Route: sulphide flotation and magnetic separation - Sample: Salable Metal Total Recovery #### Recovery - Recovery: 26.3 % - Recovery Basis: actual\_test - Head Grade: 0.23 - Head Grade Unit: % #### Lab - Laboratory: Corem metallurgical laboratory #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The total salable chromium recovery of 26.3% is low, limiting its contribution as a byproduct. - Negative factor: Low overall chromium recovery - Negative factor: Bench-scale testwork only, further optimization recommended Evidence · table > 26.3 Context: Cr Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### bench-scale [Link to this fact](https://atlas-extractions.minestarters.com/news/ev-nickel-reports-carlang-a-pea-robust-economics-for-large-scale-nickel-project--f2255bbd-b310-4e31-b6ba-7c89712daaa9#fact-metallurgical-facts-10) CarLang A Nickel Project · iron\_ore #### Identity - Project: CarLang A Nickel Project - Commodity: iron\_ore - Region: canada\_on - Reported Region: northeastern Ontario, Canada - Ticker: EVNI #### Test Work - Program Status: preliminary - Test Type: bench-scale - Processing Route: sulphide flotation and magnetic separation - Sample: Salable Metal Total Recovery #### Recovery - Recovery: 55 % - Recovery Basis: actual\_test - Head Grade: 5.33 - Head Grade Unit: % #### Reagents - Reagent Notes: 15% MgO, 12% SiO2 and 0.04% S as potential penalty elements for FeCr concentrate #### Lab - Laboratory: Corem metallurgical laboratory #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-05-05T00:00:00.000Z Reasoning: The total salable iron recovery of 55.0% is moderate, contributing to byproduct credits, but is from preliminary testwork and faces potential penalty elements. - Positive factor: Moderate overall iron recovery - Negative factor: Bench-scale testwork only, further optimization recommended - Negative factor: Potential penalty elements identified Evidence · table > 55.0 Context: Fe Recovery #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.