Royal Nickel Closes $15 Mln Royalty Financing from Global Mining Investor
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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