[Ferro-Alloys.com] 

Agnico Eagle invests $17 million for 12% of Canada Nickel

Agnico Eagle Mines (TSX: AEM; NYSE: AEM) has made a C$23.1 million ($17m) investment in the recent flow-through offering from Canada Nickel Company (TSXV: CNC), acquiring 19.6 million units at a price of C$1.18 per unit. This gives Agnico a non-diluted equity interest in Canada Nickel of 12%, or 15.6% on a partially diluted basis.

Canada Nickel’s flagship project is the Crawford nickel sulphide deposit in Ontario, for which it released a feasibility study in October 2023. According top the new study, Crawford contains the world’s second largest nickel resources which total 2.46 billion tonnes at 0.24% nickel, containing 13.30 billion lb. of nickel.

Over an initial life of 41 years, the project will produce 3.54 billion lb. of nickel, 52.9 million lb. of cobalt, 490,000 oz. of palladium and platinum, 58 million tonnes of iron, and 6.2 million lb. of chromium.

• [Editor:邢亚敏]