Toronto-based Canada Nickel Company has closed a secured loan facility with Auramet International of some US$10 million (C$8 million), the company said in a statement.
Under the plan, the proceeds from the loan facility “will be used to ensure the Company remains well-funded as it continues to aggressively advance the Crawford Nickel Sulphide Project through the first quarter of 2022 when the Company expects to conclude its strategic investor process,” the statement said.
Canada Nickel Company says it is advancing a number of nickel-cobalt sulphide projects.
The Toronto-based company “is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp,” according to the statement.
Auramet International is one of the world’s leading physical precious metals merchants.