Canada Nickel Company (TSXV: CNC) has found a potential financer for its expected mine fleet at the firms flagship Crawford Nickel Cobalt Sulphide Project. The firm this morning announced the signing of a memorandum of understanding with Taykwa Tagamou Nation for the financing of the expected mine fleet at the project.
The arrangement between the two firms will see the Nation seek favourable financing terms from lenders to enable the Nation to provide the financing required for all or a portion of the heavy mining equipment fleet required by the project. In exchange, training and employment opportunities are to be provided to the people of the Nation for specialized maintenance and operation of the equipment that is financed or owned by the Nation.
The agreement marks the second arrangement between the firm and the Nation, with an electrical transmission project currently in the process of undergoing a systems impact assessment study for the transmission infrastructure required for the project. The latest initiative reportedly has the potential to “substantially reduce initial capital requirements and improve Canada Nickel’s ability to finance Crawford and advance it to development.”
Canada Nickel last traded at $3.27 on the TSX Venture.
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