Agnico Eagle’s $17 Million Investment in Canada Nickel Agnico Eagle’s $17 Million Investment in Canada Nickel

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Amidst a flurry of market activity, Agnico Eagle has positioned themselves in a bloc of investors after investing $17 million in Canada Nickel, securing a substantial 12% stake in the company. Each unit comprises one flow-through share and 0.35 of one flow-through share purchase warrant. The acquisition of the warrant entitles the holder to purchase an additional common share at a price of C$1.77 any time prior to Dec. 29, 2026 or the expiry date.

Agnico Eagle stressed that the purchase was made solely for investment purposes.

Canada Nickelโ€™s flagship project, the Crawford nickel sulphide deposit in Ontario, has been the subject of intense feasibility studies since October 2023. The findings suggest that Crawford hosts the worldโ€™s second-largest nickel resources, totaling a staggering 2.46 billion tonnes at 0.24% nickel, housing 13.30 billion lb. of nickel.

Over an extensive 41-year lifespan, the project is projected to yield 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.

A tantalizing promise of environmental responsibility earmarks the project, with the company revealing plans to employ its in-process tailings (IPT) method of carbonization โ€“ a game-changing innovation. This method involves injecting a concentrated source of CO2 into tailings in the mill. Remarkably, the carbon is geologically sequestered in the tails while they are in the processing circuit, fundamentally altering the post-production carbon footprint paradigm in the industry.

Speaking to the potential impact, Canada Nickel CEO Mark Selby expressed, โ€œThe proceeds from this offering will help us continue to unlock the potential of our Timmins nickel district, which we believe has the potential to be one of the worldโ€™s largest nickel sulphide district.โ€

Selby continued with fervor, โ€œThis potential, combined with our novel IPT carbonation process to capture and store CO2, provides a foundation for a zero-carbon industrial cluster in northern Ontario.โ€

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