Royal Nickel Awards Contract for Dumont Feasibility Study
TORONTO, May 28, 2012 /CNW/ - Royal Nickel Corporation ("RNC") (TSX: RNX) today announced it has awarded a contract for the preparation of a Feasibility Study for its Dumont Nickel Project ("Dumont") to Ausenco Limited ("Ausenco") and SRK Consulting ("SRK").
Ausenco and SRK collaborated in preparing both the pre-feasibility and revised pre-feasibility studies for Dumont, released on November 1, 2011 and May 14, 2012, respectively. With the leverage provided by work already underway or completed during the pre-feasibility stage, the results of the feasibility study are expected to be announced by mid 2013.
"We are pleased to continue working with the high calibre technical teams from Ausenco and SRK during the feasibility study stage of Dumont's development," said Tyler Mitchelson, President and CEO of Royal Nickel Corporation. "Ausenco and SRK have a deep level of knowledge and experience from their previous work, both at Dumont and other large open pit mining projects in Canada and abroad. I look forward to their ongoing contributions as we continue to move the project forward and unlock the inherent value in the structurally low-cost Dumont project."
Ausenco Limited is a global, diversified engineering and project management company providing services in Minerals and Metals, Process Infrastructure, Program Management, Environment and Sustainability and Energy.
SRK Consulting is an independent, international consulting practice that provides focused advice and solutions to clients, mainly from earth and water resource industries. For mining projects, SRK offers services from exploration through feasibility, mine planning and production to mine closure.
About Royal Nickel Corporation
Royal Nickel Corporation is a mineral resource company focused primarily on the exploration, evaluation, development and acquisition of base metal and platinum group metal properties. RNC's principal asset is the 100% owned Dumont Nickel Project strategically located in the established Abitibi mining camp, 25 kilometres northwest of Amos, Quebec. RNC has a strong management team and Board with over 100 years of mining experience in the nickel business at Inco and Falconbridge. The Corporation's common shares and warrants trade on the TSX under the symbols RNX and RNX.WT.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains "forward-looking information" including without limitation statements relating to the expected completion date of a feasibility study. Readers should not place undue reliance on forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. The revised pre-feasibility study results are estimates only, are preliminary in nature and are based on a number of assumptions, any of which, if incorrect, could materially change the projected outcome. Until a positive feasibility study has been completed, and even with the completion of a positive feasibility study, there are no assurances that Dumont will be placed into production. Factors that could affect the outcome include, among others: the actual results of development activities; project delays; inability to raise the funds necessary to complete the feasibility study or development; general business, economic, competitive, political and social uncertainties; future prices of metals; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to RNC's filings with Canadian securities regulators available on SEDAR at www.sedar.com.
Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Corporation disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE Royal Nickel Corporation