Royal Nickel Signs Electricity Supply Installation Agreement with Hydro-Québec
TORONTO, Sept. 26, 2013 /CNW/ - Royal Nickel Corporation (TSX: RNX) ("RNC") is pleased to announce it has entered into an agreement with Hydro-Québec for the construction of a high voltage power transmission line to connect RNC's planned Dumont Nickel project to Hydro-Québec's existing electricity distribution network. The connection of the Dumont site to the existing network will require the installation of approximately 10 km of 120 kV power lines. The agreement covers the completion of necessary studies and construction of the required transmission system, subject to standard terms and conditions.
"It is a critical step to have this agreement in place with Hydro-Québec to ensure power will be available in a timely manner as we move forward towards the development of the Dumont project. RNC remains focused on two main objectives: 1) pursuing partnership/financing options that will minimize shareholder dilution and 2) securing the main permit for the Dumont project. With respect to partnership and financing activities, discussions are ongoing and we continue to focus on putting together a package that will allow us to advance to the construction stage as soon as practicable once we receive the environmental authorization permit for the project, expected by the middle of next year," said Tyler Mitchelson, President and CEO of RNC.
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 Dumont Nickel Project strategically located in the established Abitibi mining camp, in the municipalities of Launay and Trécesson, 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. RNC's common shares trade on the TSX under the symbol RNX.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains "forward-looking information" including without limitation statements relating to obtaining financing for Dumont, engaging a project partner, completion of permitting, advancing Dumont into construction and other targeted milestones.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RNC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. 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 achieve the milestones or complete 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 RNC 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 RNC 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