RNC Minerals Surges on $1-billion Nickel-Cobalt Mine Plans. The company is looking to secure financing to build the world's largest nickel-cobalt project next year. Its share price rose nearly 50 percent on Monday.
Source: Investing News LINK
Source: Investing News LINK
Extracting a bulk sample at the Dumont nickel-cobalt project near Amos, northern Quebec. (Source: RNC Minerals)
RNC Minerals Plans Initiatives to
Allow Decision to Begin Construction of Dumont Nickel-Cobalt Project in
2019; Highlights Large Nickel and Cobalt Reserves
"The Dumont Nickel-Cobalt Project, one of the world's premier battery
metals projects, contains the world's largest undeveloped reserves of
both cobalt and nickel. It also contains the 2nd largest nickel reserve and the 8th largest cobalt reserve of any deposit in the world," said Mark Selby,
President and CEO of RNC Minerals. "Dumont is the only deposit of this
scale that is not currently in operation and not owned by a major mining
company (the other eight largest deposits are owned by companies that
include Glencore, Vale, Norilsk, Sumitomo Corp, and Jinchuan – see below
Tables 1 and 2). Given market concern regarding future cobalt and
nickel supply for electric vehicles, and nickel prices at the $12,000-$13,000/t ($5.50-$6/lb) level, RNC believes it is well-positioned to significantly advance Dumont in 2018."
RNC Press release : LINK
RNC is a multi-asset precious and base metal mining company with high quality production and development assets in low risk jurisdictions. The company’s principal assets are the producing Beta Hunt gold and nickel mine in Western Australia, a 50% stake in the nickel joint venture that holds the Dumont Nickel Project in the Abitibi region of Quebec, and a 30% stake in the producing Reed Mine in the Flin Flon-Snow Lake region of Manitoba, Canada.
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