Royal Nickel Corporation (RNX.TO) has closed the previously announced royalty purchase agreement with RK Mine Finance. As per the terms of the agreement, Royal Nickel has received $15 million from Red Kite in exchange for 1% Net Smelter Return Royalty in the Dumont Nickel Project.
Tyler Mitchelson, President and CEO of Royal Nickel, commented "With the receipt of the $15 million from the royalty sale, our current cash and tax credits receivable places RNC in a great position to continue to aggressively advance the Dumont project. As expenditures begin to ramp down on completion of the feasibility study by mid-year, current funds will allow RNC to concentrate efforts on partnership and project finance discussions, permitting and selected work to advance the project.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
