- Canada Nickel (CNC) has announced a new loan and issued an update on its Crawford Project
- The company is on track to deliver a feasibility study for the Timmins-based property by year-end
- It has also arranged a US$10M loan facility with Auramet that will bear interest at 1 per cent per month and close on or before October 14, 2022
- Canada Nickel Company is advancing nickel-cobalt sulphide projects to feed the electric vehicle and stainless steel markets
- Canada Nickel (CNC) opened with a gain of 4.93 per cent, trading at $1.49 per share
Canada Nickel (CNC) has announced a new loan and issued an update on its Crawford Project.
The company is on track to deliver a feasibility study for the Timmins-based property by year-end. Crawford represents a large bulk-tonnage opportunity marked by an 8 km geophysical anomaly.
The study work is 85 per cent complete, and the company is confident in what Crawford has to offer.
Canada Nickel has also arranged a US$10M loan facility with Auramet scheduled to close on or before October 14, 2022. The loan is due on January 14, 2023, will bear interest at 1 per cent per month, and be subject to a 2 per cent arrangement fee.
Auramet is one of the largest physical precious metals merchants in the world, with over US$20B in annual revenue.
At closing, Auramet will receive 325,000 one-year warrants with a strike price of $1.52 per share.
“This financing will allow us to execute post-feasibility study work on permitting and detailed engineering that is advantageous for us to complete during the coming winter months,” stated Mark Selby, Canada Nickel’s Chair and CEO, “and allows us to remain well-funded as we continue to aggressively advance the project.”
Canada Nickel Company is advancing nickel-cobalt sulphide projects to feed the electric vehicle and stainless steel markets.
Canada Nickel (CNC) opened with a gain of 4.93 per cent, trading at $1.49 per share.
