Details are sketchy, but Canadian Royalties (CZZ-T, CRYAF-O) has signed a memorandum of understanding with Chinese metal producer Jinchuan Group under which Jinchuan will finance exploration and development at Royalties’ nickel projects in the Raglan area of northern Quebec.
The memorandum covers a possible offtake agreement for concentrates from Royalties’ projects in the area, and may provide for Jinchuan to take up a shareholding in Royalties. Other parts consider Jinchuan designing and engineering a mill and related facilities for the Raglan projects and an exploration joint venture.
Royalties has outlined 10.5 million tonnes grading 1% nickel, 1.2% copper, 0.04% cobalt, 2.3 grams palladium, 0.6 gram platinum and 0.2 gram gold per tonne at four deposits on the project, Expo-Ungava, Mesamax, Mequillon and TK.
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