Northwire Canada EditionWednesday, November 11, 2026
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Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1% Gold 4,030.20 −2.0% Silver 51.23 −2.8% Copper 6.27 −1.2% Oil 86.04 −0.9% Palladium 1,024.00 +0.2% NVX 0.910 +0.0% MSR 0.435 +0.0% ELE 22.85 −4.0% ALS 53.01 −2.2% APM 5.13 −6.6% AVL 5.46 −5.4% NG 8.84 −9.0% ATY 0.220 −2.2% CN 0.125 −10.7% PMET 3.22 −4.2% ITH 1.99 −11.6% VMET 12.33 −6.9% ABX 56.41 −5.6% PUR 0.370 +8.8% SCY 0.085 +6.2% AUMN 0.300 +7.1%
Financings

First Atlantic signs $16M earn-in deal w/ Core Critical

First Atlantic Offloads Lucky Mike Exploration Burden in $16M Earn-in, Clearing Path for Flagship Newfoundland Nickel-Hydrogen Development

By The Northwire Desk — AI Analysis Feb 19, 2026 · 11:42 FAN · 0.24 First Atlantic Nickel & Cobalt Corp.
Executive Summary

The most recent news (February 19, 2026) announces a major two-stage earn-in agreement with Core Critical Metals Corp. (CCMC) regarding First Atlantic Nickel’s (FAN) Lucky Mike copper-silver-tungsten property in British Columbia. Under the terms, CCMC can earn up to an 80% interest by paying $650,000 in cash/shares and funding $16 million in exploration expenditures over 10 years. FAN retains a 20% participating interest, which is carried (free-carried) until the delivery of a feasibility study. If FAN’s interest is diluted to 10% or less, it converts to a 3% Net Smelter Return (NSR) royalty, with a buyback provision for 2% for $7.5 million.

Material Impact

This agreement is materially positive for FAN as it de-risks a secondary asset while preserving its treasury for its primary Newfoundland projects. - Financial Relief: FAN effectively offloads $16 million in required exploration spending over the next decade, ensuring the Lucky Mike project advances without diluting FAN shareholders. - Carried to Feasibility: Retaining a 20% interest carried through to a feasibility study is a high-value position for a junior, as feasibility studies are expensive and represent a major project milestone. - Strategic Focus: This allows management to focus human and financial capital on the Pipestone XL and Ophiolite-X projects in Newfoundland, which have shown massive scale (30km trend) and multi-commodity potential (Nickel-Iron alloy and Hydrogen). - Cash Injection: The $150,000 closing payment provides immediate liquidity.

FAN · Price
Company Overview

First Atlantic Nickel focuses on district-scale critical mineral projects in Newfoundland. - Flagship Project: Pipestone XL (formerly Atlantic project). It covers a 30km continuous belt of the Pipestone Ophiolite. - Resource Type: Awaruite (Ni3Fe), a naturally occurring nickel-iron alloy. Unlike traditional sulfide nickel, awaruite is sulfur-free and highly magnetic, potentially allowing for smelter-free processing via magnetic separation, which significantly reduces environmental impact and capital costs. - Secondary Asset: Ophiolite-X, targeting geologic hydrogen and carbon capture alongside critical minerals.

Read the original news release →

More from First Atlantic Nickel & Cobalt Corp.

Oct 30, 2026 · 20:30

First Atlantic targets smelter-free awaruite nickel expansion on untested ultramafic ground in Newfoundland.

M&A / Property Oct 29, 2026 · 06:30

First Atlantic advances road construction and pit excavation for Pipestone XL awaruite exploration across a 14 km trend.

Financings Oct 13, 2026 · 07:00

First Atlantic’s fourth Alloy Max visual-only hole extends a new zone by 2.4 km of strike without providing assay results.

Drill Results Oct 06, 2026 · 07:13

First Atlantic secures smelter-free awaruite financing at a premium despite persisting dilution and execution risks.

Financings Sep 28, 2026 · 19:33

First Atlantic uses sept financing to fund Newfoundland awaruite drilling and metallurgical work.

Financings Sep 18, 2026 · 17:02

First Atlantic raises $6.15m at $0.75/share to fund Pipestone XL drilling and metallurgical work.

Financings