Silver Elephant Mining to acquire Minago Nickel Project
2021-01-26 12:02:44 [Print]
Canada's Silver Elephant Mining recently announced that it entered into a binding definitive asset purchase agreement with Victory Nickel to acquire the Minago Nickel Project located in Thompson nickel belt, Manitoba, Canada for $11.68M, consisting of $6.7M credit against certain secured debt owed by Victory Nickel to Silver Elephant at closing and $5M in Silver Elephant shares.
Also, Silver Elephant will agree to issue to Victory Nickel C$2M in shares on nickel price exceeding $10/pound for 30 consecutive business days, occurring before Dec. 31, 2023.
On closure, Silver Elephant will also subscribe for 40M shares of Victory Nickel at $0.025/share.
Transaction closure is expected by Feb.9, 2021.
Also, Silver Elephant will agree to issue to Victory Nickel C$2M in shares on nickel price exceeding $10/pound for 30 consecutive business days, occurring before Dec. 31, 2023.
On closure, Silver Elephant will also subscribe for 40M shares of Victory Nickel at $0.025/share.
Transaction closure is expected by Feb.9, 2021.
Nickel Sulfate Ni 22%min; Co 0.05%max Delivered China
Unit:RMB/mt
China nickel sulfate producers' sales to production ratio statistics by province by month
Unit: %
