Royal Nickel aims to fund Dumont mine through IPO
Dec 17, 2010 | 11:52 AM
Royal Nickel Corp. completed an initial public offering (IPO) Thursday that will help finance the Dumont nickel sulfide deposit in the Val d'Or region of Quebec.
Gross proceeds totaled C$45 million ($44.41 million) and will be used for 2011-12 activities including drilling, metallurgical testing, preparation and a preliminary feasibility study and general administrative costs for the Dumont project.
The company had originally anticipated raising between C$60 million and $C100 million (AMM, Aug. 2).
Royal Nickel, which is led by a team of former Inco Ltd. executives, says the Dumont deposit could produce 65,000 tonnes of nickel annually for at least 25 years, which would make it the fourth-largest such asset in the world. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.