# SPC Nickel Amends Cooperation Agreement with Vale Canada Limited, Extending Term of the Agreement on West Graham Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/spc-nickel-amends-cooperation-agreement-with-vale-canada-limited-extending-term--4bfbe638-4aea-4c2b-8aa5-15f63695df9b Original source: https://money.tmx.com/en/quote/SPC/news/4584069568819502/spc-nickel-amends-cooperation-agreement-with-vale-canada-limited-extending-term- Publisher: tmx Original announcement: 2026-04-01T11:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: SPC Nickel Corp. - Ticker: SPC - Exchange: TSX - Region: Sudbury Basin - Primary commodity: Nickel - Secondary commodities: Copper - Document categories: Resource update, Agreement transaction - Extracted: 2026-09-18 23:36:38 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary SPC Nickel Corp. has amended its Cooperation Agreement with Vale Canada Limited regarding the West Graham Project, extending the Feasibility Study deadline to June 30, 2027. The company also restated its maiden mineral resource estimates for the project, which includes Indicated and Inferred nickel-copper resources. Reasoning: The announcement is a corporate update regarding an amendment to an existing cooperation agreement with Vale, extending project timelines rather than announcing new geological or economic data. - Positive factor: Extension of Feasibility Study deadline provides more runway - Positive factor: Reference to established maiden resource and metallurgical study Facts used in scoring: 4 ## Classification and evidence **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document restates the Maiden Mineral Resource for West Graham. Evidence · text > disclosing the Maiden Mineral Resource for West Graham containing 19.3 Mt grading 0.42% Ni and 0.28% Cu of Indicated resources **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. Why it applies: The resource mentioned is explicitly described as a Maiden Mineral Resource. Evidence · text > disclosing the Maiden Mineral Resource for West Graham ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/spc-nickel-amends-cooperation-agreement-with-vale-canada-limited-extending-term--4bfbe638-4aea-4c2b-8aa5-15f63695df9b#fact-resource-facts-0) West Graham · nickel Historical result Needs review: historical\_restatement #### Identity - Project: West Graham - Commodity: nickel - Region: sudbury basin - Reported Region: Sudbury Basin - Ticker: SPC #### Resource scope - Estimate type: resource - Resource group id: resource:8630580a12de6ef56dd9 - Deposit or zone: West Graham #### Resource Data - Category: indicated - Tonnes: 19300000 - Grade: 0.42 - Grade Unit: % #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-12-04T00:00:00.000Z #### Dates - Event date: 2026-04-01T00:00:00.000Z Reasoning: Historical restatement of indicated nickel resource. Evidence · text > 19.3 Mt grading 0.42% 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. 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 2.3 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/spc-nickel-amends-cooperation-agreement-with-vale-canada-limited-extending-term--4bfbe638-4aea-4c2b-8aa5-15f63695df9b#fact-resource-facts-1) West Graham · copper Historical result Needs review: historical\_restatement #### Identity - Project: West Graham - Commodity: copper - Region: sudbury basin - Reported Region: Sudbury Basin - Ticker: SPC #### Resource scope - Estimate type: resource - Resource group id: resource:8630580a12de6ef56dd9 - Deposit or zone: West Graham #### Resource Data - Category: indicated - Tonnes: 19300000 - Grade: 0.28 - Grade Unit: % #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-12-04T00:00:00.000Z #### Dates - Event date: 2026-04-01T00:00:00.000Z Reasoning: Historical restatement of indicated copper resource. Evidence · text > 0.28% Cu of Indicated resources #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. 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 2.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/spc-nickel-amends-cooperation-agreement-with-vale-canada-limited-extending-term--4bfbe638-4aea-4c2b-8aa5-15f63695df9b#fact-resource-facts-2) West Graham · nickel Historical result Needs review: historical\_restatement #### Identity - Project: West Graham - Commodity: nickel - Region: sudbury basin - Reported Region: Sudbury Basin - Ticker: SPC #### Resource scope - Estimate type: resource - Resource group id: resource:abad1ffc8018cf444dc8 - Deposit or zone: West Graham #### Resource Data - Category: inferred - Tonnes: 3300000 - Grade: 0.37 - Grade Unit: % #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-12-04T00:00:00.000Z #### Dates - Event date: 2026-04-01T00:00:00.000Z Reasoning: Historical restatement of inferred nickel resource. Evidence · text > 3.3 Mt grading 0.37% 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. 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 2.3 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/spc-nickel-amends-cooperation-agreement-with-vale-canada-limited-extending-term--4bfbe638-4aea-4c2b-8aa5-15f63695df9b#fact-resource-facts-3) West Graham · copper Historical result Needs review: historical\_restatement #### Identity - Project: West Graham - Commodity: copper - Region: sudbury basin - Reported Region: Sudbury Basin - Ticker: SPC #### Resource scope - Estimate type: resource - Resource group id: resource:abad1ffc8018cf444dc8 - Deposit or zone: West Graham #### Resource Data - Category: inferred - Tonnes: 3300000 - Grade: 0.28 - Grade Unit: % #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-12-04T00:00:00.000Z #### Dates - Event date: 2026-04-01T00:00:00.000Z Reasoning: Historical restatement of inferred copper resource. Evidence · text > 0.28% Cu of Inferred resources #### 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 Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. 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 2.3 years before this release ## 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.