12:32 PM EDT, 04/04/2024 (MT Newswires) -- FPX Nickel ( FPOCF ) on Thursday said it formed a Technical Advisory Committee (TAC) to provide guidance to FPX's management regarding the exploration and development of the Baptiste Nickel Project in central British Columbia.

The TAC includes representatives of FPX's three strategic investors, each holding an approximate 9.9% interest in the company's issued and outstanding shares - Sumitomo Metal Mining, Outokumpu Oyj, and the confidential corporate strategic investor first announced in November 2022.

"We are grateful for the engagement of our three strategic investors in supporting the development of Baptiste," said Martin Turenne, FPX's chief executive, in a statement. "Each of the three strategic investors brings unique technical capabilities, collectively covering the key aspects of mining, processing and downstream nickel consumption in the stainless steel and electric vehicle battery supply chains. The FPX management team looks forward to benefiting from this technical collaboration as we continue to advance Baptiste."

The TAC "will benefit from the contribution of members from each of the strategic investors with diverse experience covering mineral exploration, mine project development and operations, sustainability and external relations," reads a company statement. The group will review project materials and meet with FPX management on a quarterly basis to address risks and opportunities pertaining to the development of Baptiste.

FPX shares were last seen up C$0.005 to C$0.30 on the TSX Venture Exchange.

Price: 0.30, Change: +0.01, Percent Change: +1.69