Why Canada Nickel (TSXV:CNC) Is Up 7.5% After Ontario Backs Crawford And Reid Resource Jump

In January 2026, Canada Nickel Company Inc. reported that Ontario had named its Crawford Nickel Project as the second mining development to advance under the province's new One Project, One Process framework, and separately disclosed a very large increase in contained nickel resources at its Reid deposit based on updated drilling data. Together, the government’s streamlined permitting support for a key critical minerals project and the independently prepared, CIM-compliant resource upgrade at Reid underline Canada Nickel’s growing role in Ontario’s long-term nickel supply ambitions for electric vehicle and clean energy demand. We’ll now examine how Ontario’s One Project, One Process designation for Crawford may influence Canada Nickel’s broader investment narrative and risk profile. Uncover the next big thing with financially sound penny stocks that balance risk and reward.What Is Canada Nickel's Investment Narrative?To own Canada Nickel, you have to believe Crawford can move from a large, early-stage nickel resource to a permitted, financeable project, with Reid emerging as meaningful upside rather than a distraction. The new One Project, One Process designation for Crawford looks material for the near term, because it directly targets one of the biggest bottlenecks: permitting timelines and regulatory coordination. In parallel, the upgraded, CIM-compliant resource at Reid strengthens the longer-term asset base, but probably does less to change the short term catalysts than the Ontario support does, especially after a very large run-up in the share price. The core risks remain: a company with no revenue, ongoing losses, and future-heavy promises that must still clear funding, construction, and technical delivery hurdles. However, investors should also weigh what happens if permitting or funding progress at Crawford stalls from here. The analysis detailed in our Canada Nickel valuation report hints at an deflated share price compared to its estimated value.Exploring Other PerspectivesTSXV:CNC 1-Year Stock Price Chart Four Simply Wall St Community fair values span from CA$1.50 to CA$15.00 per share, highlighting widely different expectations. Set against this, the new Ontario 1P1P backing for Crawford and the expanded Reid resource sharpen attention on permitting, funding and execution as the real swing factors for Canada Nickel’s future.Explore 4 other fair value estimates on Canada Nickel - why the stock might be worth 35% less than the current price!Build Your Own Canada Nickel NarrativeDisagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.A great starting point for your Canada Nickel research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.Our free Canada Nickel research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Canada Nickel's overall financial health at a glance.Searching For A Fresh Perspective?Markets shift fast. These stocks won't stay hidden for long. Get the list while it matters:We've found 13 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.Trump's oil boom is here - pipelines are primed to profit. Discover the 22 US stocks riding the wave.The latest GPUs need a type of rare earth metal called Terbium and there are only 29 companies in the world exploring or producing it. Find the list for free. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.