The Royal Nickel project is expected to create approximately 1,400 jobs during construction and an average of over 500 full-time jobs when in full production.
Royal Nickel Corp. (TSX: T.RNX, Stock Forum) said Wednesday it has signed an investment deal with Ressources Quebec, a Quebec entity that aims to spur provincial government investment in resource projects.
Under an agreement, Ressources Quebec is spending $12 million to acquire an interest in Royal’s Dumont Nickel Project, and will have the right to receive 0.8% of the net smelter return from the sale of minerals produced at the site. Dumont is located near Amos in Quebec's Abitibi mining region.
It also gets a 2% undivided co-ownership interest in the property, Royal Nickel said in a press release.
Trading at 41 cents on Thursday, Royal Nickel has a market cap of $36.8 million, based on 89.8 million shares outstanding. The 52-week range is $1.20 and 33.5 cents.
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