Power Nickel to raise $28M for polymetallic project in Québec

Power Nickel (TSX-V: PNPN) announced the pricing of its previously disclosed “best efforts” private placement to raise approximately C$40 million ($28 million) for exploration at its Nisk nickel-copper-platinum group metals project in Québec.The offering consists of 14.14 million Québec flow-through shares priced at C$2.83 each, with BMO Capital Markets and Hannam & Partners acting as joint bookrunners, alongside a syndicate of agents.“The company is thrilled to announce this placement and appreciates the continued support of Robert Friedland and Rob McEwen, among other current shareholders, as it looks forward to the exciting winter 2025 drill program and summer 2025 program,” said Power Nickel CEO Terry Lynch.The offering is expected to close around February 27, 2025, subject to regulatory approvals, including that of the TSX Venture Exchange.Power Nickel entered the project in 2021. The Toronto-based junior miner plans to develop Nisk, located in Quebec’s James Bay region, as Canada’s first carbon-neutral nickel mine, leveraging carbon capture and hydroelectric power.The project includes the Nisk and Lion zones, along with untested electromagnetic targets.According to the company, the Nisk main zone features high-grade class-1 nickel with intercepts of 18.5 meters at 2.00% NiEQ and 26.6 meters at 1.98% NiEQ. The Lion Discovery showcases zones with copper up to 8%, PGMs over 22 grams per tonne, gold over 1.6 grams per tonne, and silver over 69 grams per tonne.Power Nickel’s shares were down 0.6% Monday morning in Toronto, with a market capitalization of C$311 million ($219 million).Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com