Royal Nickel plans C$15 million royalty purchase agreement

RK Mine will get 1% net smelter return royalty from Dumont Project

By Devika Patel

Knoxville, Tenn., May 9 - Royal Nickel Corp. said it will conduct a C$15 million royalty purchase agreement with RK Mine Finance.

Red Kite will acquire a 1% net smelter return royalty from the sale of minerals produced from the Dumont Nickel Project.

Settlement is expected May 10.

"This royalty sale provides an attractive form of financing, particularly in current capital market conditions. The additional capital will allow us to continue to aggressively advance the project once the feasibility study is completed by mid-year. We look forward to working further with Red Kite as we advance the project," president and chief executive officer Tyler Mitchelson said in a press release.

The nickel explorer is based in Toronto.

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