TSX-V-listed Canada Nickel on Wednesday announced several new management appointments and a $12-million bridge facility with Auramet International, as the company continued to advance its Crawford nickel/cobalt sulphide project in the Timmins-Cochrane mining camp. CEO Mark Selby noted that the feasibility study for Crawford would be announced later this month and that the new management appointments were in anticipation of advancing the project towards a construction decision by mid-2025.
TSX-V-listed Canada Nickel on Wednesday announced several new management appointments and a $12-million bridge facility with Auramet International, as the company continued to advance its Crawford nickel/cobalt sulphide project in the Timmins-Cochrane mining camp.noted that the feasibility study for Crawford would be announced later this month and that the new management appointments were in anticipation of advancing the project towards a construction decision by mid-2025.
“I am very pleased that we have been able to attract outstanding professionals like Des Tranquilla and Chris Chang to join our team on a full-time basis,” said Selby. Canada Nickel also unveiled that long-time financing partner Aurament would provide a $12-million bridge facility, allowing the company to remain well funded as it advanced permitting and detailed engineering activities.
The loan will be due on December 15, 2023, and will carry an interest rate of 1$ a month and is subject to a 2.3% arrangement fee. The Crawford project would have a mine ore production capacity of 275 000 t/d and a mill ore input capacity of 120 000 t/d. The project would operate for about 43 years.
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